VL EGovernance & IT Solutions Share: VL e-Governance & IT Solutions has raised ₹401 crore through warrants. For this, the company has approved to allot 5.34 crore warrants to the non-promoter category on preferential basis through private placement. Raising funds will strengthen the financial position of the company and provide the necessary impetus for the execution of projects. These include large-scale e-governance initiatives as well as high-tech developments in the aviation, aerospace, defense and satellite sectors.
The company will allot 25 lakh fully-paid up equity shares on conversion of warrants. Dinesh Nandwana, Chairman and Managing Director, VL e-Governance, said the funds raised will enable the company to invest in cutting-edge technologies and expand its presence in critical and emerging sectors.
He also said that the issuance of warrants is in line with the company’s vision, which is focused on creating value for stakeholders by exploring growth opportunities and leveraging the company’s expertise. The equity shares issued on conversion of warrants issued will be listed on the exchange.
Shares of VL e-Governance and IT Solutions Limited saw a rise of 1.82 percent today on January 16. This stock closed at Rs 171 on NSE. The market cap of the company is Rs 1,811.77 crore. The stock’s 52-week high is Rs 197.77 and 52-week low is Rs 50.
In the last 6 months, this stock has given an excellent return of 107 percent to its investors. At the same time, this stock has increased by 165 percent in the last one year. In the last 13 months, its investors have got a bumper profit of 390 percent.