Outcome of the Board Meeting held today i.e. Friday, September 26, 2025, for Allotment of Equity Shares on conversion of Warrants.
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The Board of Directors of Rex Sealing and Packing Industries Ltd approved the allotment of 56,000 equity shares at Rs. 210 each (including a premium of Rs. 200 per share) upon conversion of warrants held by Escorp Asset Management Limited, a Non-Promoter allottee. The company received Rs. 88.20 lakh as the balance 75% amount due on conversion. As a result, the paid-up equity capital increased from Rs. 2.22 crore (22,20,000 shares) to Rs. 2.276 crore (22,76,000 shares of Rs. 10 each). A total of 3,09,000 warrants remain outstanding and can still be converted into equity within 18 months from the original allotment date of November 1, 2024.
This is a small dilution event with limited impact on existing shareholders since only 56,000 new shares (about 2.5% increase in share count) were issued at a significant premium of Rs. 200 over face value. Shareholders should note that 3,09,000 more warrants can still be converted, which could lead to further dilution if exercised.