Preferential allotment of convertible warrants and equity shares as per attached letter
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The board of Remi Edelstahl Tubulars approved on October 20, 2025 the preferential allotment of 6,69,226 convertible warrants to WSG Co., Ltd., South Korea (non-promoter) at Rs 129.33 per warrant, aggregating Rs 8.65 crores. Additionally, 9,62,893 fully paid-up equity shares were allotted at Rs 129.33 per share (face value Rs 10, premium Rs 119.33), aggregating about Rs 12.45 crores. Equity share allottees include Remi Finance & Investment Pvt Ltd (promoter group, 2,67,000 shares), Girish Gulati HUF (3,86,607 shares), Gunjan Bagaria (1,54,643 shares), and Dnyanesh R Bhatavadekar (1,54,643 shares). For warrants, 25% of consideration is paid upfront and the balance is due on conversion within 18 months. The shares and warrants are subject to SEBI ICDR lock-in provisions.
The preferential issuance will dilute existing shareholders by adding fresh equity and potential convertible equity (warrants) worth roughly Rs 21 crores, but brings in a foreign investor (WSG South Korea) and strengthens the capital base. Short-term share price may face pressure due to dilution and lock-in overhang.