Allotment of Equity Shares on Conversion of Convertible Warrants
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Remi Edelstahl Tubulars Ltd has allotted 6,69,226 equity shares of Rs. 10 face value each at a premium of Rs. 119.33 per share, upon conversion of an equal number of convertible warrants. The warrants were originally issued on October 20, 2025 to WSG Co. Ltd, a South Korean non-promoter entity, at a price of Rs. 129.33 per warrant on a preferential/private placement basis. The company has now received the remaining 75% subscription amount (having received 25% upfront at the time of warrant issuance), bringing total consideration to Rs. 8.65 crore. As a result, the company's paid-up equity capital has increased from 1,19,45,293 shares (Rs. 11.94 crore) to 1,26,14,519 shares (Rs. 12.61 crore), a dilution of approximately 5.6%.
This is a routine completion of a previously announced preferential warrant conversion by a foreign non-promoter investor, resulting in modest equity dilution (~5.6%) for existing shareholders. The incoming foreign capital (from South Korea) signals investor confidence, though it does not change the company's overall business outlook.