Preferential allotment of convertible warrants and equity shares as per attached letter
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On October 20, 2025, Remi Edelstahl Tubulars allotted 6,69,226 convertible warrants to WSG Co., Ltd (South Korea, non-promoter) at Rs 129.33 each, along with 9,62,893 fully paid-up equity shares at Rs 129.33 each (face value Rs 10, premium Rs 119.33) to a mix of promoter group and non-promoter investors. The warrants carry 25% upfront payment with the balance due within 18 months on conversion. Total capital raise is roughly Rs 21.1 crore (Rs 8.65 cr from warrants plus Rs 12.45 cr from equity shares), and the instruments are subject to SEBI ICDR lock-in rules.
The allotment is at a significant premium to face value and brings in a foreign strategic investor (WSG Co., South Korea), but it also dilutes existing shareholders by issuing fresh equity and potential future equity upon warrant conversion within 18 months.