Allotment of Equity Shares on Conversion Of Warrants .
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The board of Rex Sealing and Packing Industries Ltd approved the allotment of 1,04,000 equity shares on conversion of an equal number of warrants to two non-promoter allottees — Amoolya Vassa and Anupam Vassa (52,000 shares each). The shares were issued at Rs. 210 each, which includes a Rs. 200 premium over the Rs. 10 face value. The company received Rs. 1.64 crore as the balance 75% payment from the warrant holders. As a result, the paid-up equity capital rose from Rs. 2.28 crore (22.76 lakh shares) to Rs. 2.38 crore (23.80 lakh shares). Additionally, 2,05,000 warrants remain outstanding and are pending conversion within the 18-month window from the original warrant allotment date of November 1, 2024.
Minor dilution for existing shareholders as the share count rose by about 4.6%. Further dilution possible if the remaining 2,05,000 warrants are converted. The conversion brings fresh capital into the company and confirms continued investor interest from the two allottees.