Small-cap stock under ₹50: Vishal Fabrics shares are one of those small-cap stocks listed on the Indian stock market, which has delivered whopping returns to its positional shareholders. In one year, Vishal Fabrics' share price ascended from ₹16.67 to ₹33 apiece on BSE, logging around a 90 percent rise. However, small-cap stock still possesses some upside potential. Vishal Fabrics share price today opened with an upside gap at ₹33 and came close to its 52-week high of ₹34.75 apiece during the early morning session. However, the small-cap stock failed to sustain itself at higher levels and was retracted after the profit-booking trigger.
The small-cap stock was under the radar of Dalal Street bulls as the company declared fundraising of ₹153 crore through the issuance of a preferential issue. The preferential issue price has been fixed at ₹30.60 per share, so the preferential issue price has been announced at a premium of over 7 percent.
The small-cap company informed the Indian stock market exchange about ₹153 crore fundraising saying, "Subject to approval of the shareholders of the Company and such other regulatory /governmental approvals, as may be required, the Board has approved the issue of Compulsorily Convertible Equity Warrants to the "Non- Promoters, Public category" on Preferential Basis by issuing up to 5,00,00,000 (Five Crores only) Warrants at an issue price of Rs. 30.60/- (Rupees Thirty point Sixty only) per warrant, each convertible into 1 (one) equity shares of the face value of Rs. 5/- each fully paid within 18 (eighteen) months from the date of allotment by SEBI (ICDR) Regulations, 2018, as amended from time to time and other applicable laws, aggregating to Rs. 153,00,00,000 (Rupees One Hundred Fifty-Three Crores Only)."
Mauritius-based AG Dynamic Funds has been allotted 50 lakh company shares, meaning the FII has invested ₹15.30 crore, around 10 percent of the targeted fund.
Other FIIs who have invested in the company in this preferential offer are Silver Stallion Limited, Vikasa India EIF I Fund, North Star Opportunities Fund VCCBull Value Incorporated VCC Sub-Fund, and Eminence Global Fund PCC- EUBILIA Capital Partners Fund I. Silver Stallion Limited has been allotted 1.50 crore company shares, Vikasa India EIF I Fund has been allotted one crore company shares, North Star Opportunities Fund VCC Bull Value Incorporated VCC Sub-Fund has been allotted 75 lakh company shares. In contrast, Nextpact Limited has been allotted 50 lakh company shares.
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