The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Captain Technocast Ltd, Captain Pipes Ltd & ....
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Awaiting price reaction for this filing.
Three promoter group entities of Captain Polyplast Ltd — Captain Technocast Ltd, Captain Pipes Ltd and Captain Plastic Pvt Ltd — have converted their warrants into equity shares on 3 May 2025. Captain Technocast acquired 5,00,000 shares (now holding 15,00,000 shares, 2.49% of diluted capital). Captain Pipes acquired 10,00,000 shares (now holding 89,20,476 shares, 14.95% of voting capital and 14.82% of diluted capital). Captain Plastic acquired 4,00,000 shares (now holding 4,00,000 shares, 0.66% of diluted capital). The company's equity share capital has increased from Rs.11.51 crore (5,75,48,790 shares) to Rs.11.94 crore (5,96,78,790 shares), a dilution of about 3.7% for existing shareholders. No funds changed hands with the company — the warrants were already held by these promoter entities.
This is promoter-group action, not open-market buying or selling, so the stock price is unlikely to move directly on this news. However, existing shareholders are diluted by roughly 3.7% as these warrants convert into new shares held by promoters, slightly strengthening the promoter group's grip on the company.