ALLOTMENT OF 250000 EQUITY SHARES UPON CONVERSION OF WARRANT ISSUED ON PREFERENTIAL BASIS TO NON PROMOTER
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Captain Polyplast Ltd has allotted 250,000 equity shares (face value Rs. 2 each) to Harish Yashvant Kariya, a non-promoter, upon conversion of 250,000 warrants issued earlier on a preferential basis. The total amount raised through this conversion is Rs. 1.35 crore, with the warrant issue price being Rs. 72 per warrant. The conversion was completed after receipt of the balance 75% subscription amount, within the 18-month SEBI-mandated timeline. As a result, the company's paid-up equity share capital has increased from 5.99 crore shares (Rs. 11.99 crore) to 6.02 crore shares (Rs. 12.04 crore), a marginal dilution of about 0.42%.
This is a minor dilution event (less than 0.5% increase in share count) and the company has successfully completed its warrant conversion within regulatory timelines, confirming the Rs. 1.35 crore inflow. The effective issue price of Rs. 72 per share is significantly above the Rs. 2 face value, so the dilution impact on existing shareholders is minimal.