Transteel Seating Technologies Converts Warrants into Equity Shares, Raising Rs 1.15 Crore
Bengaluru based Transteel Seating Technologies Limited announced the conversion of warrants into equity shares in a preferential allotment transaction on June 23, 2026. The move saw the issuance of 1,92,000 equity shares upon payment by allottees from the Non-Promoters/Public Category.The company allotted these new equity shares at an issue price of Rs 80/- each. These shares have a face value of Rs 10/- per share, carrying a premium of Rs 70/- per share. The allotment was made following the exercise of rights by existing warrant holders.
A total amount aggregating to Rs 1,15,20,000/- was received for this conversion. This payment corresponds to 75% of the issue price per warrant from the participating allottees.
The transaction involved two principal investors: Sandeep Jain and Praveen Jain. The details of the allotment and financial terms are as follows:
| Name of Allottee | No. of Warrants Applied For Conversion | Number of Equity Shares Allotted | Amount Received (75% Payment) |
|---|---|---|---|
| Sandeep Jain | 1,67,000 | 1,67,000 | Rs 1,00,20,000/- |
| Praveen Jain | 25,000 | 25,000 | Rs 15,00,000/- |
| Total | 1,92,000 | 1,92,000 | Rs 1,15,20,000/- |
The transaction resulted in the company's issued and paid-up capital increasing to Rs 22,88,20,100/-. This new capital structure comprises a total of 2,28,82,010 equity shares, each with a face value of Rs 10/-. The newly allotted equity shares will rank pari-passu with the company's existing equity shares.
The company noted that there are a total of 21,16,500 warrants outstanding for conversion. These warrant holders retain the right to convert their instruments into an equal number of Equity Shares by paying the remaining 75% of the issue price, which is Rs 60/- per warrant, within 18 months from the date of the initial warrant allotment.
TRANSTEEL Stock Price Movement
Shares of Transteel Seating Technologies Limited closed today after shedding 0.12%, settling at ₹122. Trading activity was moderate as the stock settled, with a total volume recorded of 2,000 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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