Texel Industries' Finance Committee approved the conversion of 1,72,875 warrants into equity shares for promoter Avani Shailesh Mehta at ₹38.25 per share.
The conversion resulted in a ₹49.59 lakh capital inflow and increased the company's paid-up capital from ₹13.92 crore to ₹14.09 crore.
This completes the conversion of all warrants allotted to Mehta in October 2024 under SEBI's preferential issue guidelines.