allotment of 250000 equity shares upon conversion of 250000 warrant to non promoter
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Captain Polyplast Limited has allotted 2,50,000 equity shares (face value Rs. 2 each) to Rima Harish Kariya, a non-promoter investor, upon conversion of an equal number of warrants on a preferential basis. The total consideration received was Rs. 1.35 crore at a warrant exercise price of Rs. 72 per warrant. With this conversion, the company's paid-up equity share capital has increased from Rs. 11.94 crore (5.97 crore shares) to Rs. 11.99 crore (5.99 crore shares). This is part of a larger preferential allotment of 21,30,000 warrants originally issued, of which all have now been exercised, bringing in a cumulative Rs. 11.50 crore over the 18-month exercise period.
Minor dilution for existing shareholders as 2.5 lakh new shares (about 0.42% increase in share count) are issued to a non-promoter investor. The completion of warrant conversion signals that the company has successfully raised the full Rs. 11.50 crore from this preferential issue, strengthening its equity base. Likely minimal immediate impact on stock price given the small size of the allotment.