News Corporate Actions Rex Sealing & Packing Industries Converts 94,000 Warrants into Equity Shares, Raises Rs. 1.48 CroreRex Sealing & Packing Industries Converts 94,000 Warrants into Equity Shares, Raises Rs. 1.48 Crore
Rex Sealing & Packing Industries Ltd converted 94,000 warrants into equity shares at Rs. 210 each on February 10, 2026, raising Rs. 1,48,05,000 from non-promoter Chintan Natwarlal Mehta. The conversion increased the company's paid-up capital from Rs. 2,38,00,000 to Rs. 2,47,40,000, with total equity shares rising to 24,74,000. The company retains 1,11,000 outstanding warrants eligible for conversion within 18 months from the original November 2024 allotment date.
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Rex Sealing & Packing Industries Ltd has successfully completed the conversion of 94,000 warrants into equity shares, marking a significant milestone in its capital expansion strategy. The Board of Directors approved this conversion on February 10, 2026, following the receipt of the balance payment from the warrant holder.
Warrant Conversion Details
The conversion involved 94,000 warrants being converted into an equal number of equity shares at an issue price of Rs. 210 per share, which includes a premium of Rs. 200 per share. The transaction details are summarized below:
| Parameter: | Details |
|---|---|
| Number of Warrants Converted: | 94,000 |
| Issue Price per Share: | Rs. 210 |
| Premium per Share: | Rs. 200 |
| Total Amount Received: | Rs. 1,48,05,000 |
| Allottee: | Chintan Natwarlal Mehta |
| Category: | Non-Promoter |
The warrant holder paid Rs. 157.50 per warrant, representing the remaining 75% of the issue price. Initially, warrant holders had paid Rs. 52.50 per warrant (25% of the issue price) when the warrants were originally allotted on November 01, 2024.
Impact on Share Capital
The conversion has resulted in a substantial increase in the company's equity base. The paid-up equity capital structure before and after the conversion shows the following changes:
| Metric: | Before Conversion | After Conversion | Change |
|---|---|---|---|
| Paid-up Capital: | Rs. 2,38,00,000 | Rs. 2,47,40,000 | +Rs. 9,40,000 |
| Number of Shares: | 23,80,000 | 24,74,000 | +94,000 |
| Face Value per Share: | Rs. 10 | Rs. 10 | Unchanged |
The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, providing equal rights and privileges to the new shareholder.
Outstanding Warrants and Future Conversions
Following this conversion, the company still has 1,11,000 warrants outstanding that are eligible for conversion. These warrant holders retain the right to convert their warrants into equity shares by paying the remaining 75% (Rs. 157.50 per warrant) within 18 months from the original warrant allotment date of November 01, 2024.
The original warrant issuance comprised 3,65,000 warrants issued to the Non-Promoter Category on a preferential basis. The company had received Rs. 1,91,62,500 as the initial 25% subscription amount for the total warrant issuance.
Regulatory Compliance
The conversion was conducted in full compliance with SEBI (ICDR) Regulations, 2018, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously received in-principle approval from BSE Limited vide letter No: LOD/PREEF/AB/FIP/587/2024-25 dated October 18, 2024.
The Board meeting to approve this conversion was held on February 10, 2026, commencing at 5:00 PM and concluding at 5:30 PM, demonstrating the efficient handling of this significant corporate action.
Historical Stock Returns for Rex Sealing & Packing Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
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