Ace investor Madhusudan Kela's stake rose to more than 3 per cent in SME stock Vinyas Innovative Technologies after the conversion of warrants into equities.
Vinyas Innovative Technologies, which is part of Nifty SME Emerge, said in an exchange filing on June 30 that the company's board of directors had approved raising of funds up to ₹150.04 crore by preferential issue of fully convertible 13,64,000 warrants at a price of ₹1,100.
After the allotment of equities, the stake of Madhu Kela's Singularity Equity Fund I will increase to 2.84 per cent from 1.34 per cent earlier in the company.
Besides, the stake of Singularity Equity Fund II will increase to 0.33 per cent in the company.
Madhusudan Kela's stake to rise in Vinyas Innovative Technologies
According to the exchange filing of Vinyas Innovative Technologies, Madhusudan Kela's Singularity Equity Fund I held 1,68,600 shares, equivalent to a 1.34 per cent stake, in the company before the issue.
After the conversion of 2,27,200 warrants into equity shares, the total number of shares held by the fund will rise to 3,95,800 shares, or 2.84 per cent stake.
Similarly, Singularity Equity Fund II will be issued 45,400 warrants, which means this fund will own 45,400 shares, equivalent to a 0.33 per cent stake.
The company will convene an extraordinary general meeting (EGM) on 23rd July, 2025, to seek approval of the shareholders for this purpose.
Vinyas Innovative Technologies share price trend
On Tuesday, July 1, the stock opened at ₹1,325 against its previous close of ₹1,295.35 and touched an intraday high of ₹1,343 and a low of ₹1,265, respectively. Around 12:30 PM, the stock traded 0.80 per cent lower at ₹1,285.
This SME stock has gained 25 per cent over the last year, hitting a 52-week low of ₹575.80 on 3 March this year after hitting a 52-week high of ₹1,442.50 on 8 July last year.
In June, the stock clocked a massive gain of 62 per cent after a 2 per cent gain in the previous month.
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