Outcome of the Meeting duly convened on 16th April, 2026.
Price
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Texel Industries' Finance and Investment Committee approved the conversion of 1,72,875 fully convertible equity warrants held by promoter Avani Shailesh Mehta into an equal number of equity shares. The conversion was exercised at ₹38.25 per share (including a premium of ₹28.25), with the balance 75% amount of ₹49,59,351.56 received. Following this conversion, the company's paid-up equity share capital increased from ₹13,91,84,280 to ₹14,09,13,030. Avani Shailesh Mehta's shareholding increased from 4.32% to 5.49% of the post-issue capital. No warrants remain pending for conversion for this allottee, as she had previously converted 3,50,000 warrants on April 13 and 15, 2026.
Promoter stake dilution has occurred with Avani Mehta's holding crossing 5%, which may signal increased promoter confidence in the company. The warrant conversion brings fresh equity capital of approximately ₹66 lakh (total warrant value) into the company without debt implications.