Texel Industries Ltd Allots Equity Shares to Promoter Avani Shailesh Mehta Following Warrant Conversion
Texel Industries Ltd has announced that its Finance and Investment Committee approved the allotment of equity shares to Avani Shailesh Mehta, belonging to the Promoter Category, through the conversion of warrants. The committee meeting, held on April 13, 2026, formalized the conversion of 1,75,000 warrants into 1,75,000 equity shares.The shares were allotted on a preferential basis, with the issue price set at ₹38.25 per share. This issue price includes a premium of ₹28.25 per share. The company received an aggregate amount of ₹50,20,312.50 from Ms. Mehta for this transaction, representing 75% of the full value of the consideration.
Financial and Capital Impact
The allotment of these shares resulted in a significant increase in the company's paid-up equity share capital.Before the conversion, the total paid-up equity share capital of Texel Industries Ltd stood at ₹13,56,84,280, consisting of 1,35,68,428 fully paid-up Equity Shares of face value of ₹10 each.
Following the successful allotment of new equity shares, the total paid-up equity share capital increased to ₹13,74,34,280, comprising 1,37,43,428 fully paid-up Equity Shares of face value of ₹10 each. The new equity shares allotted are stipulated to rank pari-passu with the existing equity shares.
Transaction Details Summary
The transaction details involving the allottee are summarized below:| Name of Allottee | Warrants Allotted | Warrants Applied for Conversion | Equity Shares Allotted | Amount Received (75% of Full Value) | Warrants Pending for Conversion |
|---|---|---|---|---|---|
| Avani Shailesh Mehta | 5,22,875 | 1,75,000 | 1,75,000 | ₹50,20,312.50 | 3,47,875 |
The warrants were initially issued at an issue price of ₹38.25 per Warrant, based on payment of ₹9.56, which represented 25% of the full value. The remaining 75% of the consideration is due upon the conversion of the warrants into equity shares.
Stock Price Movement
At the close of trade today, Texel Industries Ltd shares settled at ₹79.94, posting a strong 4.31% gain for the Monday session. The stock saw significant intraday movement, testing a low of ₹74.51 before eventually topping out at an intraday high of ₹80.50.Source:
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