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Kanpur Plastipack converts 4.52 lakh warrants into equity at ₹130 per share
Kanpur Plastipack Limited has approved the allotment of 4,52,000 equity shares following the conversion of an equivalent number of warrants. The company received ₹4.068 crore as the balance 70% payment (₹90 per warrant) from nine allottees, including five from the promoter group. This conversion increases the company's paid-up equity capital to ₹24.01 crore, while 5,60,000 warrants remain pending for future conversion. The promoter group's shareholding has effectively increased to 41.67% following this and a previous November allotment.
Key Highlights
Allotment of 4,52,000 equity shares at an issue price of ₹130 each (including ₹120 premium).
Total capital infusion of ₹4.068 crore received as the final 70% payment for the converted warrants.
Promoter group participation includes Manoj Agarwal and Shashank Agarwal, signaling strong insider confidence.
Post-allotment paid-up capital stands at ₹24,01,24,580 consisting of 2,40,12,458 shares.
5,60,000 warrants remain outstanding and are eligible for conversion within 18 months from the original allotment date.
👀 What to Watch
Investors should note the promoter group's increased stake and financial commitment as a positive indicator of long-term value. Monitor the conversion of the remaining 5.6 lakh warrants and the company's utilization of the newly infused capital.