Kanpur Plastipack Completes Conversion of 4.67 Lakh Warrants into Equity Shares
Kanpur Plastipack Limited successfully executed the conversion of 4,66,500 warrants into equity shares at ₹130 per share, raising ₹4,19,85,000 from promoter and non-promoter allottees. The conversion increased the company's paid-up share capital to ₹24.48 crore, with 93,500 warrants still pending conversion within the 18-month timeline.
*this image is generated using AI for illustrative purposes only.
Kanpur Plastipack Limited has successfully completed the conversion of 4,66,500 warrants into equity shares on March 23, 2026, following the Preferential Issue Committee meeting. The conversion was executed at an issue price of ₹130 per share, including a premium of ₹120, raising ₹4,19,85,000 from nine allottees across promoter and non-promoter categories.
Warrant Conversion Details
The warrant conversion process involved the receipt of balance issue price of ₹90 per warrant, representing 70% of the total issue price. The original warrants were allotted on May 15, 2025, with allottees having paid 30% upfront.
| Parameter: | Details |
|---|---|
| Total Warrants Converted: | 4,66,500 |
| Issue Price per Share: | ₹130 |
| Premium Component: | ₹120 |
| Face Value per Share: | ₹10 |
| Total Amount Raised: | ₹4,19,85,000 |
| Remaining Warrants: | 93,500 |
Allottee-wise Conversion Breakdown
The conversion involved both promoter and non-promoter categories, with significant participation from the promoter group. The detailed allotment shows varied conversion rates among warrant holders.
| Allottee Name: | Category | Warrants Converted | Amount Received (₹) | Pending Warrants |
|---|---|---|---|---|
| Manoj Agarwal: | Promoter | 55,000 | 49,50,000 | 0 |
| Shashank Agarwal: | Promoter | 64,500 | 58,05,000 | 27,500 |
| Usha Agarwal: | Promoter | 20,000 | 18,00,000 | 0 |
| Manjari Agarwal: | Promoter | 13,000 | 11,70,000 | 0 |
| Raghushree Earning Solutions LLP: | Promoter | 1,44,000 | 1,29,60,000 | 66,000 |
| Jayatika Goyal: | Non-Promoter | 1,00,000 | 90,00,000 | 0 |
| Kanika Mahadevwalla: | Non-Promoter | 28,000 | 25,20,000 | 0 |
| Rohit Rajpal: | Non-Promoter | 21,000 | 18,90,000 | 0 |
| Sachit Passi: | Non-Promoter | 21,000 | 18,90,000 | 0 |
Impact on Share Capital
Following the conversion, the company's issued, subscribed and paid-up equity share capital increased to ₹24,47,89,580, consisting of 2,44,78,958 fully paid-up equity shares of ₹10 each. The newly allotted equity shares rank pari-passu with existing equity shares of the company.
Regulatory Compliance and Future Conversions
The conversion was conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company informed both BSE Limited and National Stock Exchange of India Limited about the conversion under Regulation 30 of SEBI Listing Regulations. The remaining 93,500 warrant holders are entitled to convert their warrants within 18 months from the original allotment date by paying the balance 70% amount of ₹90 per warrant.
The Preferential Issue Committee meeting was conducted from 4:00 PM to 5:05 PM on March 23, 2026, with Company Secretary and Compliance Officer Ankur Srivastava signing the intimation to stock exchanges.
Historical Stock Returns for Kanpur Plastipack
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -7.72% | -6.97% | -6.10% | -20.78% | +46.91% | +70.16% |
Will the remaining 93,500 warrant holders convert their warrants before the 18-month deadline expires in November 2026?
How does Kanpur Plastipack plan to utilize the ₹4.2 crore raised from this warrant conversion for business expansion or debt reduction?
What impact will the increased share capital and potential dilution have on the company's earnings per share and stock price performance?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
