Allotment of Equity Shares on Conversion of Warrants.
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Rex Sealing and Packing Industries Ltd has allotted 1,04,000 equity shares at Rs. 210 each (including Rs. 200 premium) upon conversion of 1,04,000 warrants by two non-promoter allottees, Amoolya Vassa and Anupam Vassa (52,000 shares each). The company received Rs. 1.64 crore as the balance 75% of the issue price. The company's paid-up equity capital has increased from Rs. 2.276 crore (22,76,000 shares) to Rs. 2.38 crore (23,80,000 shares of Rs. 10 each). A further 2,05,000 warrants remain outstanding and can be converted within the 18-month period from the original warrant allotment date of November 1, 2024. The new shares rank equally with existing equity shares.
This is a routine warrant-to-equity conversion that increases the share count by about 4.6% and dilutes existing shareholders marginally. The two non-promoter allottees are converting previously issued warrants, so no fresh capital raising or major sentiment impact is expected for the stock.