Allotment of 258000 equity share pursuant to conversion of equal number of warrants.
NORBTEAEXP · price
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Awaiting price reaction for this filing.
Norben Tea & Exports Ltd has allotted 2,58,000 equity shares of Rs. 10 face value each at an issue price of Rs. 17 per share (including Rs. 7 premium). The shares were issued upon conversion of an equal number of warrants by Nitu Sharma, a non-promoter allotee, who paid the balance 75% of the subscription money (Rs. 12.75 per warrant). These warrants were originally allotted on a preferential basis on 31st January 2025 as part of 18,08,000 outstanding warrants. After this allotment, the company's paid-up equity capital rises to Rs. 13.99 crore comprising 1,39,94,100 equity shares. The filing was resubmitted to BSE because the original PDF from 25th July did not reflect on the BSE portal, though it was successfully filed on NSE.
Minor dilution of about 1.66% for existing shareholders as Nitu Sharma's holding moves from nil to 2,58,000 shares. The stock price impact is likely negligible given the small size of the conversion.