Containe Technologies Announces Conversion of Warrants, Increases Share Capital
Containe Technologies Ltd reported the conversion of a portion of its warrants, leading to an increase in the company's paid-up equity share capital. The Board of Directors of Containe Technologies Limited approved the conversion of 7,50,000 warrants into an equal number of equity shares.This transaction was formalized following the exercise of the right of conversion into equity shares by an allottee, which resulted in the receipt of Rs. 4,83,75,000/-. This amount represents 75% of the issue price of the warrant.
The details of the allotment are confined to a single allottee, Pushpa Bhaju, a Non-promoter.
| Particulars | Amount in Rs. |
|---|---|
| No. of warrants held (prior to conversion) | 7,50,000 |
| No. of warrants applied for conversion | 7,50,000 |
| No. of Equity Shares allotted | 7,50,000 |
| Amount received (75% of issue price) | Rs. 4,83,75,000/- |
| No. of warrants pending for conversion | Nil |
Following this conversion, the Issued, Subscribed and Paid-up Equity Share Capital of the Company increased to Rs. 6,99,40,000/-. This capital now consists of 69,94,000 fully paid-up Equity Shares of Rs. 10/- each. The newly allotted equity shares rank pari-passu with existing equity shares.
The Company previously allotted 24,50,000 Equity Share Warrants with a face value of Rs. 10/- each at an issue price of Rs. 86/- per share, including a premium of Rs. 76/- each. These warrants carried a right to apply for and be allotted one Equity Share within an 18 month period from the date of allotment, which was 10th October, 2024.
The total number of outstanding warrants remaining for conversion is 17,00,000 warrants. Warrant holders are entitled to convert these remaining warrants into an equal number of Equity Shares by paying the remaining 75% amount within 18 months from the date of warrant allotment.
Stock Price Movement
At the close of trade on Thursday, Containe Technologies Ltd settled at ₹16.61, marking a notable 7.37% gain for its shares. Throughout the session, the stock exhibited considerable movement, testing a low of ₹14.10 before reaching an intraday high of ₹17.01.Source:
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