Texel Industries Ltd Approves Conversion of Warrants to Equity Shares
Texel Industries Ltd announced that its Finance and Investment Committee approved the allotment of equity shares resulting from the conversion of fully convertible equity warrants. The approval was made during a meeting held on April 09, 2026.The committee considered and sanctioned the conversion of 65,359 warrants into 65,359 equity shares. The allotment was approved for Avishi Anuj Sharedalal, who belongs to the Promoter Category, and was executed on a preferential basis. The equity shares were allotted at an issue price of ₹38.25 each, which includes a premium of ₹28.25 each.
The transaction followed the receipt of the balance amount aggregating to ₹18,74,986.31 from the allottee. This amount represents 75% of the full value of the consideration, exercised by Avishi Anuj Sharedalal through her rights of conversion into equity shares, in line with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018.
Key details of the allottee involved in the conversion are presented in the table below:
| Name of Allottee | No. of warrants allotted | No. of warrants applied for conversion | No. of equity shares allotted | Amount Received (75% of full value consideration) | No. of warrants pending for conversion |
|---|---|---|---|---|---|
| Avishi Anuj Sharedalal | 65,359 | 65,359 | 65,359 | ₹18,74,986.31 | Nil |
These warrants were initially issued pursuant to Members' approval dated October 05, 2024, on a preferential basis at an issue price of ₹38.25 per Warrant. The initial allotment required payment of ₹9.56, representing 25% of the full value of consideration, with the remaining 75% due within 18 months from the date of allotment.
The conversion of warrants and allotment of equity shares resulted in an increase in the total paid-up equity share capital of the Company. The capital increased from ₹13,30,69,910, which consisted of 1,33,06,991 fully paid-up Equity Shares of face value of ₹10/- each, to ₹13,37,23,500, consisting of 1,33,72,350 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 of the Company.
Stock Price Movement
At the close of trade Thursday, Texel Industries Ltd settled at ₹76.50, climbing 2.18% for the session. Throughout the day, the shares tested a broad band, oscillating between a low of ₹71.20 and a high of ₹78.63.Source:
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