Kanpur Plastipack Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/05/2025 ,inter alia, to consider and approve Allotment of Equity Shares ....
KANPRPLA · price
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Kanpur Plastipack has informed BSE that its Preferential Issue Committee will meet on May 2, 2025, to approve the allotment of equity shares following the conversion of warrants. Back in October 2024, the company had allotted 17,60,000 fully convertible equity warrants at an issue price of ₹116.50 each (including a premium of ₹106.50 over the face value of ₹10). All warrant holders have now paid the balance issue price and confirmed their intention to convert the warrants into equity shares. Each warrant will convert into one fully paid-up equity share of ₹10 face value. The conversion is being carried out under SEBI's ICDR Regulations, 2018.
This is a routine completion step of a previously announced preferential warrant issue and will lead to a modest dilution of existing shareholders as 17.60 lakh new shares are issued. There is no fresh fundraising or change in the company's capital plans — only conversion of instruments already allotted into equity. Share price impact is expected to be neutral unless the conversion triggers any lock-in expiry or change in promoter holding pattern.