Norben Tea & Exports Limited has informed the Exchange regarding allotment of 258000 securities pursuant to Preferential Issue at its meeting held on July 25, 2025
NORBTEAEXP · price
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Awaiting price reaction for this filing.
Norben Tea & Exports has allotted 2,58,000 equity shares of Rs. 10 face value to Nitu Sharma (a Non-Promoter) upon conversion of an equal number of warrants issued earlier on January 31, 2025 on a preferential basis. The conversion happened at the pre-agreed issue price of Rs. 17 per share (Rs. 10 face value + Rs. 7 premium) after the allottee paid the balance 75% of the subscription money (Rs. 12.75 per warrant). Post-allotment, the company's paid-up equity share capital has increased to Rs. 13,99,41,000, comprising 1,39,94,100 fully paid-up shares. Nitu Sharma's stake after the allotment is 1.66% of the post-conversion capital. Out of the original 18,08,000 warrants issued to non-promoters in January 2025, 2,58,000 have been converted in this tranche, with the balance 15,50,000 warrants still outstanding for future conversion.
This is largely a procedural event tied to a previously announced preferential issue, so no surprise element. There is a small dilution of about 1.66% to existing shareholders, and the remaining 15,50,000 warrants could lead to further dilution if converted later, which investors should keep an eye on.