New Delhi, July 1 -- Ace investor Madhusudan Kela's stake rose to more than 3 per cent in SME stock Vinyas Innovative Technologies after the conversion of warrants into equities.

Vinyas Innovative Technologies, which is part of Nifty SME Emerge, said in an exchange filing on June 30 that the company's board of directors had approved raising of funds up to Rs.150.04 crore by preferential issue of fully convertible 13,64,000 warrants at a price of Rs.1,100.

(This is a developing story. Please check back for fresh updates.)

Published by HT Digital Content Services with permission from MINT....