Vikram Kamats Hospitality Ltd Allots Equity Shares Upon Conversion of Warrants

Vikram Kamats Hospitality Ltd Allots Equity Shares Upon Conversion of Warrants​

Vikram Kamats Hospitality Ltd, formerly known as Vidli Restaurants Limited, announced the allotment of equity shares following the conversion of warrants. The Allotment Committee of the Board of Directors approved and allotted 1,44,000 Equity Shares to Dr. Vikram V. Kamat. These shares have a face value of ₹ 10/- each and are fully paid up.

The allotment occurred pursuant to the conversion of 1,44,000 Warrants and upon the receipt of the balance 70% of the subscription money. The equity shares allotted through the conversion of warrants will rank pari passu with the company's existing equity shares.

Shareholding Impact​

The allotment of shares resulted in the following change in the shareholding structure:

Capital Structure Update​

Following this allotment, the paid-up equity shares capital of the company increased. The capital rose from ₹ 17,28,98,650/- (Rupees Seventeen Crores Twenty Eight Lakhs Ninety Eight Thousand Six Hundred and Fifty only) divided into 1,72,89,865 equity shares to ₹ 17,43,38,650/- (Rupees Seventeen Crores Forty Three Lakhs Thirty Eight Thousand Six Hundred and Fifty only) divided into 1,74,33,865 Equity Shares of ₹ 10/- each.

Warrant Conversion Details​

The conversion involved the allotment of 1,44,000 Equity Shares at the rate of Rs. 51.80/- per warrant. This was based on an initial issue price of ₹ 74/- per warrant, which included a premium of ₹ 64/-. The total amount aggregated from this exercise was ₹ 74,59,200/- (Rupees Seventy Four Lakhs).

The company’s paid-up equity shares capital increased from ₹ 17,28,98,650/- to ₹ 17,43,38,650/-.

Stock Price Movement​

At the close of trading Wednesday, Vikram Kamats Hospitality Ltd settled at ₹44.22, achieving a solid gain of 16.22%. The shares moved through a considerable intraday range, testing lows near ₹38.00 before peaking at ₹45.66.

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