Mumbai (Maharashtra) [India], January 17: VL E-Governance & IT Solutions Limited (VL E-Governance), is pleased to announce the approval of the allotment of 5.34 Crore warrants on a preferential basis by way of a private placement. This initiative underscores the companys commitment to strengthening its capital structure and accelerating its growth trajectory. Board approved the allotment of 5.34 Crore Fully Convertible Warrants (Warrants) each convertible into 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each (the Equity Shares), aggregating to Rs. 400.99 Crore to the Non-Promoter category on preferential basis. Board approved the allotment of 25.00 Lakhs equity shares upon conversion of warrants. This milestone in the preferential issue process underscores the confidence of warrant holders in VL E-Governances growth potential and long-term vision.