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VIJIFIN - Viji Finance

📊 NSE: VIJIFIN 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 15:07

📢 Recent Corporate Announcements

Viji Finance to Raise ₹35.7 Crore via Preferential Allotment of 12.75 Crore Warrants

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 23 Apr 2026, 06:09 PM

Viji Finance has received shareholder approval to issue 12.75 crore convertible warrants to 22 non-promoter investors at a price of ₹2.80 per warrant. The total fundraise aggregates to ₹35.7 crore, with 25% of the consideration payable upfront and the remaining 75% due upon conversion within 18 months. This preferential issue will lead to significant equity dilution, as several new investors will acquire stakes ranging from 1% to 4.81% each. The capital infusion is expected to strengthen the company's balance sheet and support its financial operations.

Issuance of 12.75 crore warrants convertible into equity shares at ₹2.80 per warrant.
Total issue size of ₹35.70 crore to be raised from 22 non-promoter investors.
25% upfront payment required at allotment, with the balance 75% payable within 18 months.
Major allottees include Vicky R. Jhaveri HUF and Rajesh Nanubhai Jhaveri HUF, each acquiring a 4.81% stake post-conversion.
The warrants are convertible into equity shares with a face value of ₹1 each.

💡 Investors should monitor the deployment of the ₹35.7 crore capital and its impact on the company's loan book growth. While the fundraise is a positive liquidity event, the substantial equity dilution should be factored into long-term valuation models.

Viji Finance Shareholders Approve Issuance of 12.75 Crore Convertible Warrants

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 23 Apr 2026, 05:10 PM

Shareholders of Viji Finance Limited have approved a special resolution to issue 12,75,00,000 warrants convertible into equity shares on a preferential basis. The resolution was passed during the Extraordinary General Meeting held on April 23, 2026, with an overwhelming 99.99% of votes in favor. This capital-raising initiative is directed toward non-promoter entities and other persons. The total votes polled represented approximately 49.87% of the company's total outstanding shares, indicating significant participation from the promoter group.

Approved issuance of 12,75,00,000 warrants convertible into equity shares of Re. 1 each.
Resolution passed with 99.9897% of valid votes cast in favor.
Promoter group cast 6,79,44,002 votes, representing 100% support from the group.
Public non-institutional shareholders cast 31,18,715 votes with 99.76% approval.
The fundraise is aimed at non-promoter/other persons category to strengthen the capital base.

💡 Investors should monitor the specific allotment details and the pricing of these warrants to evaluate the extent of equity dilution. The strong shareholder mandate suggests confidence in the management's expansion or capital-strengthening plans.

Viji Finance Approves Issuance of 12.75 Crore Convertible Warrants on Preferential Basis

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 23 Apr 2026, 01:19 PM

Viji Finance Limited held an Extraordinary General Meeting (EGM) on April 23, 2026, to seek shareholder approval for a significant capital raise. The primary agenda was the issuance of 12,75,00,000 warrants convertible into equity shares of face value Re. 1 each. These warrants are being issued on a preferential basis to non-promoter entities and other persons. The successful execution of this preferential issue will provide the company with fresh capital for its business operations.

Proposed issuance of 12,75,00,000 warrants convertible into equity shares of Re. 1 each
Issuance targeted at non-promoters and other persons on a preferential basis
Remote e-voting was conducted from April 20 to April 22, 2026, prior to the EGM
The meeting was held via video conferencing with 36 members in attendance
Final voting results to be submitted within prescribed timelines as per SEBI regulations

💡 Investors should monitor the final voting results and the allotment price of the warrants to evaluate the potential equity dilution versus the benefits of capital infusion. Watch for further disclosures regarding the specific use of proceeds from this fundraise.

Viji Finance to Raise ₹35.70 Crore via Preferential Issue of 12.75 Crore Warrants

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 01 Apr 2026, 04:33 PM

Viji Finance Limited has scheduled an Extraordinary General Meeting (EGM) on April 23, 2026, to seek shareholder approval for a preferential issue of 12.75 crore convertible warrants. These warrants are priced at ₹2.80 each (including a ₹1.80 premium) and will be issued to 22 non-promoter investors. The total fundraise amounts to ₹35.70 crore, with 25% of the price payable upfront and the remaining 75% due upon conversion into equity shares within 18 months. This capital infusion is expected to strengthen the company's financial position.

Issuance of 12.75 crore warrants convertible into equity shares of Re. 1 face value each.
Total capital to be raised is ₹35.70 crore at an issue price of ₹2.80 per warrant.
Warrants are allotted to 22 non-promoter entities, including various HUFs and individuals.
Payment structure involves 25% (₹0.70) at allotment and 75% (₹2.10) at the time of exercise.
The warrants must be converted into equity shares within a maximum period of 18 months.

💡 Investors should view this as a positive growth signal for the company's capital base, though they should account for the eventual equity dilution. Monitor the EGM results and the subsequent utilization of funds for business expansion.

Viji Finance Announces Trading Window Closure from April 1, 2026 for FY26 Audited Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 04:37 PM

Viji Finance Limited has informed the stock exchanges that its trading window will be closed starting April 1, 2026. This closure is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations for the purpose of finalizing the audited financial results for the quarter and year ending March 31, 2026. The restriction applies to all designated persons, including directors and key management personnel, and their immediate relatives. The window will reopen 48 hours after the financial results are officially declared to the exchanges.

Trading window closure effective from April 1, 2026, for Q4 and FY26 audited results.
Restriction applies to all Designated Persons, their immediate relatives, and connected persons.
Trading window to reopen 48 hours after the declaration of financial results.
Compliance confirmed with SEBI circulars regarding PAN-level freezing for designated persons.
Board meeting date for result approval to be announced in due course.

💡 This is a routine regulatory announcement with no direct impact on stock fundamentals. Investors should monitor the upcoming announcement of the audited financial results for performance assessment.

Viji Finance to Raise ₹35.70 Crore via Preferential Issue of 12.75 Crore Warrants

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 24 Mar 2026, 07:41 PM

Viji Finance Limited has approved the issuance of up to 12.75 crore warrants on a preferential basis to 22 non-promoter investors. Each warrant is priced at ₹2.80, bringing the total fundraise to approximately ₹35.70 crore. Investors will pay 25% of the consideration upfront, with the remaining 75% payable upon conversion into equity shares within 18 months. This capital infusion is intended to support the company's growth and is subject to shareholder approval at an upcoming Extra-Ordinary General Meeting.

Proposed issuance of 12.75 crore convertible warrants at an exercise price of ₹2.80 per share.
Total fundraise size of ₹35.70 crore targeting 22 non-promoter individual and HUF investors.
Payment structure involves 25% upfront subscription fee and 75% at the time of conversion.
Conversion period is set for 18 months from the date of allotment, after which unexercised warrants will lapse.
The issue is subject to shareholder approval in an ensuing Extra-Ordinary General Meeting (EGM).

💡 Investors should monitor the EGM results for shareholder approval and track the company's utilization of these funds for business expansion. The conversion price of ₹2.80 serves as a key benchmark for the stock's valuation and potential equity dilution.

Viji Finance to Raise ₹35.70 Crore via Preferential Issue of 12.75 Crore Warrants

🟢 POSITIVE ⭐ 8/10

FUNDRAISE 📅 24 Mar 2026, 07:32 PM

Viji Finance Limited has approved a significant fundraise of ₹35.70 crore through the issuance of 12.75 crore convertible warrants. These warrants are priced at ₹2.80 each and will be issued to 22 non-promoter investors on a preferential basis. The conversion will happen on a 1:1 basis into equity shares of face value ₹1. An Extra-Ordinary General Meeting (EGM) is scheduled for April 23, 2026, to seek shareholder approval for this proposal.

Issuance of 12,75,00,000 warrants convertible into equity shares at ₹2.80 per warrant.
Total fundraise amount aggregates to ₹35,70,00,000 from 22 non-promoter entities.
Major proposed allottees include Vicky R. Jhaveri HUF and Rajesh Nanubhai Jhaveri HUF, each set to hold 4.81% post-conversion.
Extra-Ordinary General Meeting (EGM) to be held on April 23, 2026, via video conferencing.
A Preferential Allotment Committee has been constituted to oversee the execution and conversion process.

💡 Investors should note the significant equity dilution following the conversion of these warrants, while also monitoring how the company intends to deploy the ₹35.70 crore for business growth. The entry of several new non-promoter investors suggests a broadening of the capital base.

Viji Finance Board to Meet on March 24 to Consider Fundraise via Preferential Issue

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 19 Mar 2026, 06:52 PM

Viji Finance Limited has announced a Board Meeting scheduled for March 24, 2026, to consider raising funds through various instruments. The company is exploring the issuance of equity shares, convertible securities, or warrants via a private or preferential issue. In compliance with SEBI regulations, the trading window for insiders has been closed effective March 19, 2026. This capital-raising initiative suggests the company is looking to strengthen its balance sheet or fund future growth opportunities.

Board meeting scheduled for March 24, 2026, to deliberate on fundraising proposals.
Proposed instruments include equity shares, warrants, or other convertible securities.
Fundraising to be executed through private or preferential issue routes.
Trading window for designated persons closed from March 19, 2026, until 48 hours after the board meeting.

💡 Investors should wait for the official board meeting outcome on March 24 to understand the scale of the fundraise and the potential equity dilution. The terms of the preferential issue, including the issue price and the identity of the investors, will be critical for assessing the long-term impact.

Viji Finance Q3 FY26 Net Profit at ₹94.22 Lakhs; Turnaround from YoY Loss

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 16 Jan 2026, 05:48 PM

Viji Finance Limited reported a significant turnaround in Q3 FY26, posting a net profit of ₹94.22 lakhs compared to a net loss of ₹9.56 lakhs in the same quarter last year. Total revenue from operations surged to ₹159.26 lakhs, a sharp increase from ₹59.30 lakhs YoY, driven primarily by higher interest income. For the nine-month period ended December 2025, the company turned profitable with a net profit of ₹51.53 lakhs against a loss of ₹51.11 lakhs in the previous year. Total expenses for the quarter were well-managed at ₹46.22 lakhs, down from ₹84.11 lakhs in the year-ago period.

Net Profit turned positive at ₹94.22 lakhs in Q3 FY26 vs a loss of ₹9.56 lakhs in Q3 FY25.
Revenue from operations grew 169% YoY to ₹159.26 lakhs, up from ₹59.30 lakhs.
Total expenses decreased by 45% YoY to ₹46.22 lakhs from ₹84.11 lakhs in the previous year.
9M FY26 performance shows a complete turnaround with a profit of ₹51.53 lakhs vs a loss of ₹51.11 lakhs YoY.
Earnings Per Share (EPS) improved to ₹0.07 for the quarter from a negative ₹0.01 YoY.

💡 Investors should note the sharp turnaround in profitability and revenue growth, though the absolute figures remain small. It is advisable to monitor if this sudden spike in interest income is sustainable in future quarters.

Viji Finance Files Quarterly Compliance Certificate Under SEBI Regulation 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 01:52 PM

Viji Finance Limited has submitted its compliance certificate for the quarter ended December 31, 2025, in accordance with SEBI (Depositories and Participants) Regulations. The company's Registrar and Transfer Agent, Ankit Consultancy Private Limited, confirmed that no requests for dematerialization or rematerialization of shares were received during this period. As a result, no further intimations were required to be sent to the depositories. This is a standard regulatory filing confirming the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Zero demat and remat requests were received by the Registrar during the quarter.
Confirmation provided by Ankit Consultancy Private Limited, the company's RTA.
Filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.

💡 No action is required as this is a routine administrative filing. Investors should focus on the company's upcoming financial performance and business growth metrics.

Viji Finance Increases Authorized Share Capital to ₹30 Crore; Appoints New Director

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 31 Dec 2025, 05:29 PM

Viji Finance Limited's shareholders approved an increase in authorized share capital from ₹18 crore to ₹30 crore during the 31st AGM held on December 31, 2025. This 66.67% increase involves the creation of 12 crore new equity shares of ₹1 each, which typically signals preparation for future capital raising activities. Additionally, the company confirmed the appointment of Mr. Ashish Verma as a Non-Executive Director and Ramesh Chandra Bagdi & Associates as Secretarial Auditors for a five-year term. These structural changes align the company's corporate framework for potential expansion or equity infusion.

Authorized Share Capital increased from ₹18,00,00,000 to ₹30,00,00,000.
Creation of 12,00,00,000 additional equity shares with a face value of ₹1 each.
Confirmation of Mr. Ashish Verma (DIN: 07665222) as Professional Non-Executive Non-Independent Director.
Appointment of Ramesh Chandra Bagdi & Associates as Secretarial Auditor for a 5-year tenure (FY 2025-26 to 2029-30).

💡 Investors should watch for subsequent announcements regarding specific fundraising plans, such as rights issues or preferential allotments, that would utilize this increased capital headroom.

Viji Finance Increases Authorized Capital to ₹30 Cr and Confirms New Director Appointment

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 31 Dec 2025, 05:29 PM

Viji Finance Limited's shareholders approved a significant increase in Authorized Share Capital from ₹18 Crores to ₹30 Crores during the 31st AGM held on December 31, 2025. The company also confirmed the appointment of Mr. Ashish Verma as a Professional Non-Executive Non-Independent Director, who brings 38 years of administrative experience. Furthermore, Ramesh Chandra Bagdi & Associates were appointed as Secretarial Auditors for a five-year period ending in FY 2029-30. These moves indicate a strengthening of the corporate structure and preparation for potential future capital expansion.

Authorized Share Capital increased by 66.6% from ₹18,00,00,000 to ₹30,00,00,000
Creation of 12,00,00,000 additional equity shares of face value ₹1 each
Mr. Ashish Verma (DIN: 07665222) confirmed as Non-Executive Non-Independent Director
Ramesh Chandra Bagdi & Associates appointed as Secretarial Auditor for a 5-year term (FY 2025-2030)

💡 Investors should monitor for upcoming fund-raising announcements, such as a rights issue or preferential allotment, which typically follow an increase in authorized capital. The management changes are routine and do not require immediate portfolio adjustments.

Viji Finance Concludes 31st AGM; Approves Fundraise and Capital Increase

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 31 Dec 2025, 05:02 PM

Viji Finance Limited held its 31st Annual General Meeting on December 31, 2025, with 36 members attending via video conference. Shareholders approved several critical resolutions, including the raising of funds through loans with an option to convert into equity shares. The meeting also saw the approval of an increase in Authorized Share Capital and material related party transactions with the Chairman and Managing Director, Vijay Kothari. These moves indicate a strategic push for capital expansion and potential future growth through debt-to-equity instruments.

Approved raising funds through secured/unsecured loans with an option for conversion into equity shares.
Authorized an increase in the company's Authorized Share Capital and consequent alteration of the Memorandum of Association.
Approved material related party transactions with Mr. Vijay Kothari, Chairman and Managing Director.
Granted special authority to the Board to borrow money and create charges on movable and immovable properties.
Total of 63,425 members were eligible as of the December 24, 2025 cut-off date, with 36 members attending the virtual meeting.

💡 Investors should monitor the specific quantum of the proposed fundraise and the terms of the equity conversion option, as this could lead to future equity dilution. It is also advisable to review the details of the approved related party transactions for any impact on minority shareholder interests.

Viji Finance 31st AGM: Shareholders Consider Fundraising via Convertible Loans and Capital Increase

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 31 Dec 2025, 03:04 PM

Viji Finance Limited held its 31st Annual General Meeting on December 31, 2025, to transact eight key resolutions including the adoption of FY25 financial statements. Major proposals included authorizing the board to borrow funds and raise capital through loans with an option for conversion into equity shares. Additionally, the company sought approval for an increase in authorized share capital and material related party transactions with the Managing Director. While the statutory auditor's report was clean, the secretarial auditor's report contained observations that management stated would not impact operations.

Proposed raising funds through secured/unsecured loans with an option for conversion into equity shares.
Sought shareholder approval to increase Authorized Share Capital and alter the Memorandum of Association.
Tabled special resolutions to authorize the Board to borrow money and create charges on company properties.
Requested approval for Material Related Party Transactions with Chairman and MD Mr. Vijay Kothari.
The meeting was attended by 36 members via video conferencing, with remote e-voting held from December 28 to 30, 2025.

💡 Investors should closely monitor the final voting results and the specific terms of the convertible loans, as equity conversion could lead to future share dilution. It is also advisable to review the details of the material related party transactions involving the Managing Director.

Viji Finance to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Dec 2025, 03:48 PM

Viji Finance Limited has announced the closure of its trading window effective from January 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This routine measure is taken ahead of the board's consideration and approval of the un-audited financial results for the quarter and nine months ending December 31, 2025. The trading restriction applies to all designated persons, their immediate relatives, and connected persons. The window will reopen 48 hours after the financial results are officially declared to the stock exchanges.

Trading window closure starts on Thursday, January 1, 2026.
Closure is for the purpose of approving un-audited financial results for the period ended December 31, 2025.
The window will remain closed until 48 hours after the financial results become generally available.
Company has implemented PAN-level freezing for designated persons as per SEBI's latest regulatory framework.
The specific date for the Board Meeting to approve results will be announced separately.

💡 This is a standard regulatory filing and requires no immediate action from retail investors. Investors should focus on the upcoming financial results to assess the company's quarterly performance.

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💰 Financial Performance

Revenue Growth by Segment

The company operates 100% in the Finance Services segment. Historical total income grew 43.75% from INR 1.6 Cr in 2017 to INR 2.3 Cr in 2018. For FY 2024-25, operating profit increased due to higher revenue, though exact segment revenue figures were not disclosed.

Geographic Revenue Split

Primarily concentrated in Indore, Madhya Pradesh, which represents the core regional market for its corporate lending operations.

Profitability Margins

Operating profit margin was 23.30% in FY 2024-25. Net profit margin stood at 5.76% for the same period, showing an increase in net profit compared to the previous year.

EBITDA Margin

Operating profit margin of 23.30% reflects core profitability before interest and taxes, showing improvement due to higher revenue and better liability management.

Capital Expenditure

Not disclosed in available documents as the company is a financial services provider with low physical asset requirements.

Credit Rating & Borrowing

CRISIL assigned a 'CRISIL B+/Stable' rating to INR 5 Cr bank debt in June 2018, which was subsequently withdrawn in August 2018 at the company's request. Borrowing costs are influenced by the debt-equity ratio of 0.59.

⚙️ Operational Drivers

Raw Materials

Capital and debt funds represent 100% of the 'raw material' for lending operations.

Import Sources

Domestic sourcing from Indian banks and financial institutions.

Key Suppliers

Banks and financial institutions providing credit lines and shareholders providing equity through rights issues.

Capacity Expansion

Not applicable for financial services; however, authorized share capital was increased from INR 18.00 Cr to support larger loan disbursements.

Raw Material Costs

Cost of funds is the primary expense. Interest coverage ratio improved from 1.02 in FY 2023-24 to 1.47 in FY 2024-25, indicating better management of interest costs relative to profits.

📈 Strategic Growth

Growth Strategy

Growth will be achieved through expanding geographic presence into new regions, digitalization to enhance customer experience, and product diversification to meet evolving needs. A significant rights issue in FY 2024-25 increased shareholder equity to fund this expansion.

Products & Services

Working capital requirement loans and unsecured corporate loans.

Brand Portfolio

Viji Finance

New Products/Services

Introduction of new financial products and services is planned to cater to evolving customer needs, though specific revenue contributions are not disclosed.

Market Expansion

Entering new geographic markets and regions to increase reach beyond the current Indore base.

Market Share & Ranking

Small-scale NBFC with regional concentration in Madhya Pradesh.

🌍 External Factors

Industry Trends

The NBFC sector is facing increased regulatory vigil from the RBI, focusing on contagion risk and scale-based regulations. NBFCs are adopting bank-like practices in governance and risk management to ensure stability.

Competitive Landscape

Competes with other regional NBFCs, fintech lenders, and banks providing corporate working capital.

Competitive Moat

Moat is based on promoter familiarity with borrowers and moderate capitalization. This is sustainable for niche corporate lending but faces challenges from fintech disruption.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles and RBI monetary policy changes.

Consumer Behavior

Increasing demand for customized financial assistance among corporates and individuals.

Geopolitical Risks

Low direct impact as operations are domestic and regional.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI scale-based regulations, liquidity ratio maintenance, and asset-liability management (ALM) practices. RBI has recently intensified scrutiny to address governance and risk management issues.

Legal Contingencies

The Board reviews major litigation and legal developments; however, specific pending case values in INR were not disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

Credit risk from loan defaults and regulatory changes by the RBI are the primary uncertainties, with potential impact on margins and capital adequacy.