Corporate Action10 April 2026 at 09:43 am
Texel Industries Allots 1,96,078 Equity Shares to Promoter
AI Summary
Texel Industries Ltd's Finance and Investment Committee, in its meeting on April 10, 2026, approved the allotment of 1,96,078 equity shares to Bhupendra Ramniklal Mehta, a promoter, upon conversion of an equal number of fully convertible equity warrants. The shares were issued at ₹38.25 each, including a premium of ₹28.25, following the receipt of the balance 75% consideration of ₹56,24,987.63. These warrants were initially allotted on a preferential basis in October 2024. Consequently, the company's total paid-up equity share capital has increased from ₹13,37,23,500 to ₹13,56,84,280, and the new shares will rank equally with existing shares. This conversion is in accordance with SEBI regulations.
Key Highlights
- Texel Industries allotted 1,96,078 equity shares to a promoter.
- Shares issued at ₹38.25 each upon warrant conversion.
- Company received ₹56.25 lakhs as balance consideration.
- Paid-up capital increased from ₹13.37 Cr to ₹13.57 Cr.
- New shares rank pari-passu with existing equity.