Nupur Recyclers Limited has informed the Exchange regarding allotment of 430000 securities pursuant to Preferential Issue at its meeting held on July 02, 2025
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Nupur Recyclers Limited has allotted 4,30,000 equity shares at ₹91 per share (including an ₹81 premium over the ₹10 face value) following the conversion of an equal number of warrants. These warrants were originally issued on September 16, 2024, as part of a larger 81,00,000 warrant preferential issue, with the allottees now paying the remaining 75% (₹68.25 per warrant), totalling ₹2.93 crore received by the company. The shares were allotted to 5 allottees, including promoter Rajesh Gupta (who now holds 32.73% post-conversion), promoter group members Nupur Gupta and Shikha Gupta, and non-promoters Geeta Goswami and Manisha Dabral. After this conversion, 76,70,000 warrants remain pending and can be converted within 18 months from the original warrant allotment date.
This is a positive development showing promoter confidence, as insiders are putting in additional capital by converting warrants into equity. The share count increases by 4,30,000 (minor dilution of ~0.62%), but the company's paid-up capital rises to ₹6.91 crore split across 6.91 crore shares. Existing shareholders should note the potential for further dilution if the remaining 76.7 lakh warrants are converted in the future.