Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in their meeting ....
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Rex Sealing and Packing Industries Ltd has allotted 60,952 equity shares following the conversion of an equal number of warrants by Nirbhay Fancy Vassa, a Non-Promoter allottee. The shares were issued at Rs. 210 each (including a Rs. 200 premium) on a preferential basis, with the company receiving Rs. 95,99,940 as the balance 75% amount. As a result, the paid-up equity capital has increased from Rs. 2,47,40,000 (24,74,000 shares) to Rs. 25,349,520 (25,34,952 shares) of Rs. 10 each. The original warrants were issued on November 1, 2024, at Rs. 210 per warrant, and 50,048 warrants are still pending conversion. The new shares will rank equally with existing equity shares.
This is a routine warrant-to-equity conversion that results in a small dilution of about 2.5% in share count. Since the allotment is to a Non-Promoter at a fixed preferential price of Rs. 210, it brings in additional capital but slightly expands the share base, with limited immediate impact on the stock price.