Norben Tea Allots 3.68 Lakh Equity Shares Following Warrant Conversion
Authored By Ankur Chandra | Last Modified: May 31, 2025 10:45 PM IST
Mumbai, 27 May 2025: Norben Tea & Exports Ltd (BSE: 519528 | NSE: NORBTEAEXP) has announced the successful allotment of 3,68,000 equity shares to Kailash Dhanuka HUF, a non-promoter entity, following the conversion of warrants under its preferential issue plan. This strategic move further strengthens the company’s equity base with an infusion of fresh capital at a premium valuation.
Key Highlights
| Particulars | Details |
|---|---|
| Shares Allotted | 3,68,000 Equity Shares |
| Face Value | ₹10 per share |
| Issue Price | ₹17 per share (₹7 premium) |
| Allottee | Kailash Dhanuka HUF (Non-Promoter) |
| Post-Allotment Shareholding | 3,75,000 shares (2.41% of post-capital) |
| Outstanding Warrants Remaining | 4,00,000 |
| Capital Post-Allotment | ₹13,33,61,000 (1,33,36,100 shares) |
The allotment was approved by the company’s Allotment Committee in a meeting held earlier today between 10:30 a.m. and 11:00 a.m., following the receipt of the balance 75% subscription amount for the warrants initially issued on January 31, 2025.
Strategic Significance
This share issuance is part of a broader preferential allotment of 25,76,000 warrants granted to non-promoter investors earlier this year. The ongoing conversions reflect investor confidence and provide Norben Tea with additional capital to pursue growth initiatives. Importantly, the shares allotted today will rank pari passu with existing equity shares, ensuring equal rights for the new investor.
With this transaction, the company’s fully paid-up equity capital now stands at ₹13.33 crore, comprising 1,33,36,100 shares of ₹10 each.
Company Overview and Outlook
Headquartered in Kolkata, Norben Tea & Exports Ltd is engaged in the cultivation, processing, and global export of premium tea. Known for its disciplined approach to capital management, the company continues to attract long-term interest from non-promoter investors.
With ₹12.75 per share received in this tranche and 4,00,000 warrants still outstanding, Norben Tea anticipates further equity inflows. Market participants will be watching closely how the company leverages this capital to support operational expansion and strategic initiatives.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/146d534d-9fa1-4742-8b2c-a8b00f323a2c.pdf
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