Allotment of Equity shares on conversion of warrant
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rex Sealing and Packing Industries has allotted 94,000 equity shares to a non-promoter allottee (Chintan Natwarlal Mehta) upon conversion of warrants issued earlier on November 1, 2024. The shares were allotted at Rs. 210 each (face value Rs. 10 plus premium of Rs. 200), and the company received Rs. 1.48 crore as the balance 75% payment for warrant conversion. The allotment has increased the paid-up equity capital from 23,80,000 shares to 24,74,000 shares of Rs. 10 each. After this conversion, 111,000 warrants remain outstanding for conversion into equity within 18 months from the original warrant allotment date.
Marginal equity dilution of around 4% from this allotment; another ~4.7% potential dilution still pending from 111,000 unconverted warrants, which may weigh on the stock in the near term.