Vikram Kamats Hospitality Ltd Allots Equity Shares Following Warrant Conversion
Vikram Kamats Hospitality Limited, formerly known as Vidli Restaurants Limited, has announced the allotment of a total of 7,65,325 Equity Shares. The shares were allotted upon the conversion of warrants held by several institutional and promoter entities.The Company's Allotment Committee approved the allotment of equity shares of face value of ₹10/- each, based on the conversion of 7,65,325 warrants and the receipt of the balance 70% of the subscription money. These newly allotted equity shares rank pari passu with all existing equity shares of the Company.
Allotment Breakdown
The equity shares were allotted to the following entities:| Allottee Name | Category | No. of Warrants Converted | Shares Allotted (₹10/- each) | Shares Post Conversion | % of Equity Shareholding |
|---|---|---|---|---|---|
| Dr. Vikram V. Kamat | Promoter | 1,20,000 | 1,20,000 | 15,40,541 | 8.46 |
| Kamats Worldwide Food Services Private Limited | Promoter / Body Corporate | 3,86,541 | 3,86,541 | 43,25,041 | 23.77 |
| Nabs Vriddhii LLP | Body Corporate/Non-Promoter | 2,25,000 | 2,25,000 | 3,60,135 | 1.98 |
| Kamal Singh Kathotia HUF | Public - Hindu Undivided Family | 33,784 | 33,784 | 67,568 | 0.37 |
Financial Update and Capital Increase
Following the allotment, the paid-up equity shares capital of the Company saw a notable increase. The paid-up equity shares capital rose from ₹ 17,43,38,650/- to ₹ 18,19,91,900/-. This represents an increase in the total equity share count from 1,74,33,865 to 1,81,99,190 Equity Shares of ₹ 10/- each.The allotment process included a conversion rate where each warrant was convertible into one equity share of face value of ₹ 10/- each. The shares were allotted after the receipt of the balance amount at a rate of ₹ 51.80 per warrant, aggregating to ₹ 3,96,43,835/-.
Lapsed Warrants Noted
In a separate transaction detail, the Company noted the lapse of 45,270 warrants held by the non-promoter entity Nabs Vriddhii LLP. This lapse occurred within the stipulated time frame and resulted in the forfeiture of an upfront subscription amount of ₹10,04,994/-.Stock Price Movement
Vikram Kamats Hospitality Ltd shares settled at ₹49.58 today, dipping 0.80% from the previous close. The shares traded in a notable intraday range, moving between ₹49.05 and a high of ₹51.50.Source:
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