Vishal Fabrics' Fund-raising Committee has approved the conversion of 7.5 million warrants into equity shares.

These shares, allotted to North Star Opportunities Fund, were converted upon receipt of Rs. 17.21 crore at Rs. 22.95 per warrant.

This capital infusion boosts the company's paid-up capital to Rs. 112.55 crore, now consisting of 225.11 million equity shares.

Looking ahead, about 22.5 million warrants are still outstanding for future conversion by warrant holders.