Texel Industries Completes Allotment of Equity Shares Following Warrant Conversion
On April 15, 2026, Texel Industries Ltd. announced that its Finance and Investment Committee approved the allotment of equity shares resulting from the conversion of warrants belonging to promoter Avani Shailesh Mehta.The committee approved the conversion of 1,75,000 Warrants into 1,75,000 equity shares. These shares were allotted to Avani Shailesh Mehta, who belongs to the Promoter Category, on a preferential basis. The shares were issued at an issue price of ₹38.25 each, which includes a premium of ₹28.25 each. The company received a balance amount aggregating to ₹50,20,312.50 for this conversion, representing 75% of the full value of the consideration.
The total paid-up equity share capital of Texel Industries Ltd. increased following the transaction. The capital rose from ₹13,74,34,280, comprising 1,37,43,428 fully paid-up Equity Shares of face value of ₹10 each, to ₹13,91,84,280, comprising 1,39,18,428 fully paid-up Equity Shares of face value of ₹10 each. The newly allotted equity shares will rank pari-passu with the existing equity shares.
The transaction details are summarized below:
| Parameter | Allottee Name | Warrants Allotted | Warrants Applied for Conversion | Equity Shares Allotted | Consideration Received (75% of full value) | Warrants Pending for Conversion |
|---|---|---|---|---|---|---|
| Details | Avani Shailesh Mehta | 5,22,875 | 1,75,000 | 1,75,000 | ₹50,20,312.50 | 1,72,875* |
Previously, these warrants were issued, with the allotment requiring a payment of ₹9.56 (25% of the full value) and allowing the warrant holder to pay the remaining ₹28.69 (75% of the full value) within 18 months from the date of allotment.
The company noted that 1,72,875 Warrants remain pending for conversion for Avani Shailesh Mehta.
Stock Price Movement
Texel Industries Ltd settled at ₹80.13 today, showing a gain of 0.78% in its shares. Throughout the session, the stock showed volatility, trading between a high of ₹83.00 and a low of ₹76.41.Source:
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