Promoters reaffirm Commitment to Fratelli Vineyards Limited through conversion of Warrant into Equity Shares

FRATELLI VINEYARDS LIMITED [formerly known as Tinna Trade Limited] today announced that members of its "Promoter and Promoter Group" have further reinforced their commitment to the Company by converting their previously allotted warrants into equity shares at a price of Rs. 300/- per share - significantly higher than the current market price.

Each warrant allotted members of the "promoter and promoter group" has converted 30,000 warrants into equity shares, resulting in the issuance of 1,50,000 new equity shares and a fresh capital infusion of approximately Rs 3,37,50,000/- into the Company. This represents payment of the remaining 75% of the issue price (Rs 225 per share), as 25% was already paid upfront at the time of initial allotment.

This capital infusion underscores the Promoter Group's unwavering confidence in Fratelli's long-term growth potential and strategic vision. The transaction also highlights the promoters' ongoing commitment to supporting the Company's equity base and strengthen its financial position.

Following this transaction, the overall shareholding of the Promoter and Promoter Group members has increased from 56.91% to 57.06%, thereby reflecting a stronger alignment with the interests of all shareholders and the public at large.

Commenting on the promoters' increased investment, Mr. Gaurav Sekhri, Chairman and Managing Director of Fratelli Vineyards Limited, said; "The promoters have reaffirmed their confidence in Fratelli's vision and growth strategy. This capital infusion reinforces the Company's financial strength and will be utilized to support its ongoing business operations, enhance operational efficiencies, and further consolidate its position in the market, while continuing to build on the Company's strong brand presence."

Shares of FRATELLI VINEYARDS Ltd was last trading in BSE at Rs. 124.55 as compared to the previous close of Rs. 129.65. The total number of shares traded during the day was 22922 in over 194 trades.

The stock hit an intraday high of Rs. 131.70 and intraday low of 120.10. The net turnover during the day was Rs. 2865983.00.

Source : Equity Bulls

Keywords

FRATELLIVINEYARDS INE401Z01019 PromoterGroup FundInfusion Investment WarrantsConversion