Viaz Tyres Converts 752,500 Convertible Warrants into Equity Shares
Viaz Tyres Limited has completed the conversion of convertible warrants into equity shares following a recent board action. The company approved the conversion of 7,52,500 Convertible Warrants into an equal number of equity shares, which have been allotted entirely to the Promoter of the Company.The transaction details confirm that each warrant was converted into one equity share, with the allotment being made at a face value of ₹10/- per share and a conversion price set at ₹70/per equity share upon receipt of the full subscription amount. The allotment process constituted a Preferential Allotment by converting Convertible Warrants into Equity Shares.
The overall details pertaining to the issuance, which involved convertible warrants, are summarized below:
| Particulars | Details |
|---|---|
| Type of security proposed to be issued | Equity Shares of face value ₹10/- each upon exercise of option of conversion of warrants. |
| Type of issuance | Preferential Allotment by conversion of Convertible Warrants into Equity. |
| Post allotment outcome | Allotment of 7,52,500 Equity shares of face value ₹10/- each fully paid up at a premium of ₹60/-, with the Board meeting held on July 11, 2026 confirming the transaction. |
| Conversion mechanism | Exercise of 7,52,500 convertible warrants into 7,52,500 fully paid-up equity shares of ₹10/- each. |
The allotted equity shares were distributed among five investors who held the corresponding warrants prior to conversion. The details regarding the allotment and investment amounts are provided below:
| Sr. No. | Name of Allottee | Nos. of Warrants Applied for Conversion | Amount (₹) Received (75% of issue price per warrant) | Equity Shares Allotted |
|---|---|---|---|---|
| 1. | Rajesh Prabhudas Patel | 2,73,500 | 1,43,58,750 | 2,73,500 |
| 2. | Parichaykumar Maganlal Patel | 1,00,000 | 52,50,000 | 1,00,000 |
| 3. | Kenaben Parichaykumar Patel | 1,50,000 | 78,75,000 | 1,50,000 |
| 4. | Nirmaben Rajeshkumar Patel | 1,79,000 | 93,97,500 | 1,79,000 |
| 5. | Mukundbhai Jagdishchandra Patel | 50,000 | 26,25,000 | 50,000 |
The conversion process concluded the allotment of the 7,52,500 equity shares of face value ₹10/- each.
VIAZ Stock Price Movement
On Friday, Viaz Tyres Limited shares edged higher to close at ₹61.30, finishing the session with a notable gain of 3.54%. The stock experienced solid intraday movement, trading within a range spanning from ₹57.80 to ₹62.95, while accumulating 14,000 shares during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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