Intimation of Lapse and forfeiture of Convertible Warrants allotted on 27th November, 2024.
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Astal Laboratories Ltd has announced that 1,86,700 convertible warrants out of 37,29,930 allotted on November 27, 2024 have lapsed because the warrant holders failed to pay the balance 75% of the issue price (Rs. 30 per warrant) before the May 26, 2026 deadline. Three non-promoter warrant holders were affected: SUBHALALJHA (1,00,000 warrants), SAILAJA ARUN KUMAR (66,700 warrants), and SRI HARSHA SOMA (20,000 warrants). The company has forfeited the upfront 25% subscription amount of Rs. 18,67,000 (approximately Rs. 18.67 Lakhs) received at the time of allotment. The remaining 35,43,230 warrants were successfully exercised and converted to equity shares. There will be no change in the company's paid-up share capital.
The warrant lapse has no dilutive impact on the share capital since the warrants never converted. The forfeited amount of Rs. 18.67 Lakhs will be retained by the company as income, providing a small non-operating cash inflow.