The Hindu Business Line : Vimta Labs makes pref allotments

The board of directors of Vimta Labs Ltd at its meeting held on Thursday has considered the allotment of 40.65 lakh equity shares of Rs 2 each at a premium of Rs 188 per share on preferential allotment basis in accordance with the approval given by the shareholders at the extraordinary general meeting held on March 18. The company informed the stock exchanges that it has allotted 11.66 lakh shares to India Fund Inc, 11.03 lakh shares to Voyager Fund Mauritius Ltd, 4.66 lakh shares to Minivet Ltd, 8.86 lakh shares to Franklin Templeton Asset Management (India) Pvt Ltd - Franklin India Smaller Companies Fund, and 4.43 lakh shares to Franklin Templeton Asset Management (India) Pvt Ltd - Franklin India Prima Fund. Further, the company said while allotting the above shares, the board has considered the recommendations of its committee by limiting the allotment of shares to Voyager Fund Mauritius Ltd below 5 per cent of the post-issue paid-up capital in line with FEMA Regulations as Voyager Fund is a foreign corporate registered as a sub-account of an FII.

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