Rex Sealing and Packing Industries Allots Equity Shares Following Warrants Conversion
Rex Sealing and Packing Industries Ltd announced that its Board of Directors approved the allotment of Equity Shares following the conversion of warrants held by a non-promoter category allottee. The transaction, approved during the Board meeting on April 17, 2026, resulted in a material increase in the company's paid-up capital.The Company approved the conversion of 50,048 warrants into 50,048 Equity Shares. These shares were allotted on a preferential basis to the Non-Promoters Category. The new Equity Shares were issued at a price of Rs. 210/- each, which includes a premium of Rs. 200/- per share.
The allotment was completed upon the receipt of the balance amount aggregating to Rs. 78,82,560 (Rupees Seventy eight lakhs eighty two thousand five hundred and sixty only). This amount represents 75% of the total issue price per warrant.
Warrant Conversion Details
The warrants in question were initially issued to the Non-Promoters Category at an Issue Price of Rs. 210/- per warrant. The original terms required the allottee to pay 25% of the issue price (Rs. 52.5/-) upon warrant allotment, with the remaining 75% (Rs. 157.50/-) payable upon conversion into Equity Shares.
The details of the allotment to Nirbhay Fancy Vassa, a Non-Promoter, are summarized below:
| Allottee Name | Warrants Allotted | Warrants Applied For Conversion | Equity Shares Allotted | Amount Received (75% of Issue Price) |
|---|---|---|---|---|
| Nirbhay Fancy Vassa | 50,048 | 50,048 | 50,048 | Rs. 78,82,560/- |
Capital Structure Update
Following the conversion and allotment of the new Equity Shares, the paid-up equity capital of Rex Sealing and Packing Industries Ltd increased.
The Company’s paid-up equity capital changed as follows:
| Metric | Before Conversion | After Conversion |
|---|---|---|
| Paid-Up Capital | Rs. 2,53,49,520/- | Rs. 2,58,50,000/- |
| Total Equity Shares | 25,34,952 | 25,85,000 |
| Face Value per Share | Rs. 10/- | Rs. 10/- |
The new Equity Shares allotted rank pari passu with the existing equity shares of the Company. The Company noted that post the conversion of the warrants, 5101 WaHaBLS company warrants remain outstanding.
Stock Price Movement
As of 11:17, Rex Sealing and Packing Industries Ltd. shares are ticking down sharply to ₹140.00, reflecting a notable loss of 9.68%. The stock is currently locked at this level, as the intraday range has remained completely flat throughout the session.Source:
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