Allotment of 21,30,000 number of equity shares pursuant to conversion of 21,30,000 number of warrants convertible into equivalent number of equity shares to the person(s) belonging to ....
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Captain Polyplast has allotted 21,30,000 equity shares (face value Rs. 2 each) after converting an equal number of warrants on a preferential basis to promoter and non-promoter group allottees. The warrant exercise price was Rs. 72 per share, and the company received the balance 75% amount totaling Rs. 11.50 crore, completing the subscription process within the 18-month SEBI ICDR timeline. Major allottees include promoter-group firms Captain Pipes Ltd (10 lakh shares), Captain Technocast Ltd (5 lakh shares), and Captain Plastics Pvt Ltd (4 lakh shares), along with a few individuals. Post-allotment, the company's paid-up equity capital has increased from 5,75,48,790 to 5,96,78,790 shares.
The conversion increases the share count by about 3.7%, leading to mild dilution for existing shareholders, but the funds (Rs. 11.50 crore) are already in the company and largely from promoter-related entities, signalling insider confidence rather than dilution from external fundraising.