Texel Industries Ltd's Finance Committee approved conversion of 1,75,000 warrants into equity shares for promoter Avani Mehta.
Shares were issued at ₹38.25 each, with ₹50.20 lakh received as 75% balance payment for the conversion.
Paid-up equity capital increased to ₹13.92 crore from ₹13.74 crore following the allotment of new shares.
Avani Mehta retains 1,72,875 warrants pending conversion after this partial exercise of her rights.