VL E-Governance & IT Solutions Limited — QIP/Rights/Pref., 16-01-2025: Allotment of Securities

VL E-Governance & IT Solutions Limited has announced a board meeting outcome regarding the allotment of 53,465,600 convertible warrants at an issue price of ₹75 each, raising approximately ₹400.99 crore on a preferential basis. Additionally, 2,500,000 equity shares were allotted following the conversion of warrants at the same issue price, specifically to non-promoter investors, increasing the company's equity share capital to ₹1,084.51 crore. The company plans to utilize the raised funds for upcoming strategic initiatives while 50,965,600 warrants remain available for conversion over the next 18 months.