Outcome of the Meetiing of Finance and Investment commitee.
Price
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Texel Industries' Finance and Investment Committee approved the conversion of 65,359 fully convertible equity warrants into an equal number of equity shares at ₹38.25 per share. The allottee, Avishi Anuj Sharedalal (Promoter), paid the balance 75% amount of ₹18.75 lakh to complete the conversion. The company's paid-up equity capital increased from ₹13.30 crore (1.33 crore shares) to ₹13.37 crore (1.34 crore shares). The promoter's shareholding increased from 0.51% to 1.00% post-allotment. All warrants for this allottee have now been fully converted with no pending conversions remaining.
Minor dilution for existing shareholders as the capital base increased by 65,359 shares. The promoter's stake nearly doubled from 0.51% to 1.00%, indicating continued promoter participation in the company's equity.