Allotment of 60952 equity shares against conversion of warrants
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Rex Sealing and Packing Industries informed BSE that its Board approved the allotment of 60,952 equity shares to a single non-promoter allottee, Nirbhay Fancy Vassa, upon conversion of an equal number of warrants. The shares were issued at Rs. 210 each (Rs. 10 face value plus Rs. 200 premium), and the company received Rs. 95,99,940 as the balance 75% payment. As a result, the paid-up equity capital has risen from Rs. 2.47 crore (24,74,000 shares) to Rs. 2.53 crore (25,34,952 shares). The original warrants were issued on November 1, 2024 at Rs. 210 per warrant with 25% paid upfront. About 50,048 warrants still remain pending conversion, with holders having until May 2026 to exercise their right.
This is a minor dilution of about 2.5% for existing shareholders, with the company receiving roughly Rs. 96 lakh in fresh capital. The small scale and single-allottee nature of the conversion means negligible impact on the stock price, though it does signal modest capital raising from a non-promoter source.