Vivimed Lab issues convertible warrants to Mauritius firm

Vivimed Labs has informed the exchanges that following approval from the Foreign Investment Promotion Board, it has issued five lakh warrants with an option to apply for and be allotted an equivalent number of equity shares, to Kitara PIIN 1102, Mauritius. The proposed issuance of warrants is to be made at an issue price of ₹315 a warrant. The FDI inflow by the foreign investor is expected to be ₹15.75 crore approximately, said Vivimed Labs. The stock of Vivimed Labs slumped 20 per cent at ₹204.85 on the NSE.