Kanpur Plastipack Limited has informed the Exchange about Conversion of 752000 warrants into equity shares.
KANPRPLA · price
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Awaiting price reaction for this filing.
Kanpur Plastipack Limited has converted the remaining 7,52,000 warrants into equity shares at ₹116.50 per share (face value ₹10, premium ₹106.50). This is the final tranche — all 17,60,000 warrants allotted in October 2024 have now been fully converted, with 10,08,000 converted earlier in December 2024. The company received ₹6.13 crore (70% balance amount) from 16 allottees, mostly promoter group entities and a few public investors. As a result, the company's paid-up equity capital has risen to ₹23.23 crore, comprising 2.32 crore equity shares of ₹10 each.
This is a routine completion of a previously announced preferential warrant issue, meaning no new dilution shock for shareholders. Promoter and promoter group holdings remain dominant, signalling insider confidence in the company. Share price may see mild pressure due to increased floating supply, though lock-in restrictions will limit immediate selling.