Conversion of 9,85,220 Warrants and allotment of 9,85,220 Equity Shares of Duroply Industries Limited
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On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 2.6 pts more than its Plywood Boards/ Laminates peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Duroply Industries has allotted 9,85,220 equity shares (face value Rs. 10 each) on September 25, 2025, following the conversion of an equal number of warrants that were originally issued to non-promoter public investors on a preferential basis on March 27, 2024. The conversion price was Rs. 203 per share, and the company has now received the remaining 75% of the subscription money (Rs. 152.25 per warrant), bringing in approximately Rs. 15 crore in additional capital. A total of 10 allottees converted their warrants in full, with no warrants left outstanding. The largest allottees are Tusk Investments Ltd (6.41% post-issue stake), Aditya Agarwalla Family Trust (1.82%), Salarpuria Investment (1.69%), and Ekta Credit (1.36%). The company's paid-up equity capital has increased from Rs. 9.86 crore to Rs. 10.85 crore.
Existing shareholders face minor dilution (roughly 10% expansion of share count from this tranche), but the company strengthens its capital base. With all warrants fully converted, there is no further dilution overhang from this 2024 preferential issue. The stock may see some short-term supply pressure from new allottees.