ALLOTMENT OF 2130000 EQUITY SHARES UPON CONVERSION OF 2130000 WARRANT ISSUED ON PREFERENTIAL BASIS TO PROMOTER & NON PROMOTER
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Captain Polyplast's board, at its meeting on 3rd May 2025, approved the allotment of 21,30,000 equity shares after promoters and certain non-promoter allottees paid the remaining 75% amount to convert their warrants into shares. The warrant exercise price was Rs. 72 per warrant, bringing in a total of Rs. 11.50 crore. Three promoter-group entities (Captain Technocast, Captain Pipes, and Captain Plastics) together received 19,00,000 shares, while three individuals received the remaining 2,30,000 shares. As a result, the company's paid-up equity capital has risen from Rs. 11.51 crore (5.75 crore shares) to Rs. 11.94 crore (5.97 crore shares), a dilution of roughly 3.7%.
This is a routine completion of a previously announced preferential warrant issue and signals fresh equity infusion of Rs. 11.50 crore into the company. Shareholders should note a modest dilution of about 3.7%, but since most shares went to promoter-group entities, promoter holding is largely maintained. No immediate negative impact on stock price is expected from the conversion itself.