Vishal Fabrics Ltd. (BSE: 538598), a premier supplier of top quality stretch denim fabric, has announced that its board has allotted compulsorily convertible warrants at a floor price of Rs. 30.60 per warrant to persons belonging to non-promoter category, aggregating to Rs. 153 Cr. FPIs North Star Opportunities Fund VCC Bull Value Incorporated VCC Sub-Fund, Eminence Global Fund PCC- EUBILIA Capital Partners Fund, and other public category persons Elysian Wealth Fund (Formerly Silver Stallion Ltd) & Vikasa India EIF I Fund.
Recently, the board approved Qualified Institutions Placement (QIP) for aggregate amount of up to Rs. 100 Crores, in one or more tranches. The fund-raise will be subject to approval of the Company’s shareholders and receipt of applicable regulatory approvals.
Further, the company announced stellar earnings for Q1FY25 (Quarter ended 30 June 2024). The Revenue from operations were reported at Rs. 33991.60 Lakhs. EBITDA grew 28% YoY, from Rs. 2080.93 Lakhs (Q1FY24) to Rs. 2668.71 Lakhs (Q1FY25). PAT jumped 106% YoY, from Rs. 231.86 Lakhs (Q1FY24) to Rs. 477.83 Lakhs (Q1FY25).