Norben Tea & Exports Limited has informed the Exchange regarding allotment of 400000 securities pursuant to Preferential Issue at its meeting held on July 24, 2025
NORBTEAEXP · price
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Norben Tea & Exports Limited has allotted 4,00,000 equity shares to Kailash Dhanuka HUF (a non-promoter) upon conversion of an equal number of warrants. These warrants were originally issued on a preferential basis on January 31, 2025, at Rs. 17 per share (Rs. 10 face value plus Rs. 7 premium). The conversion was completed after the company received the balance 75% subscription money of Rs. 12.75 per warrant. Following this allotment, Kailash Dhanuka HUF's holding rose from 7,000 shares (0.06%) to 7,75,000 shares (4.98%) of the company. The company's paid-up equity capital has increased to Rs. 13.73 crore, consisting of 1,37,36,100 equity shares. About 22,08,000 warrants were originally issued, of which 4,00,000 have now been converted, with the rest still outstanding.
This is a routine warrant-to-equity conversion that increases the share count by about 3%, leading to mild dilution for existing shareholders. The issue price of Rs. 17 (at a premium to face value) signals confidence from the allottee, but the small scale means limited impact on stock price.