Vishal Fabrics share price jumped over 4% on Wednesday after Mauritius-based foreign institutional investor (FII) Elysian Wealth Fund raised its stake in the company through a preferential allotment. The small-cap stock rallied as much as 4.64% to ₹36.94 apiece on the BSE.
Elysian Wealth Fund (formerly known as Silver Stallion Ltd) was allotted 80,67,176 equity shares of Vishal Fabrics, aggregating to 3.71% stake in the company, following the conversion of warrants, according to a stock exchange filing.
The fund earlier held 69,32,824 Vishal Fabrics shares, or 3.31% stake in the company. With the latest acquisition, the FII’s shareholding in Vishal Fabrics has increased to 6.89% of the company’s paid-up equity capital, holding 1.50 crore shares.
The acquisition was executed via preferential allotment of equity shares with a face value of ₹5 each. Following the allotment, Vishal Fabrics’ equity base expanded to ₹108.8 crore, comprising 21.76 crore shares.
Vishal Fabrics Share Price Performance
Vishal Fabrics share price has fallen 1% in one month, but the small-cap stock has rallied 23% in three months, and 30% in six months. Vishal Fabrics shares have gained 3% in one year and have delivered multibagger returns of 135% in two years.
At 10:10 AM, Vishal Fabrics share price was trading 1.64% higher at ₹35.88 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
