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Vedavaag Systems Limited will invest Rs. 0.75 Crore in its wholly-owned subsidiary, Vedavaag Financial Insurance Broking Services Private Limited, through a rights issue.
Vedavaag Systems Limited announced the lapse of 73,98,800 unexercised convertible warrants following the expiry of the 18-month conversion window. Consequently, the company has forfeited the upfront payment of approximately ₹11.65 Crore (25% of the issue price). Only 5,39,200 warrants were converted into equity shares during the period.