Board approves warrant forfeiture and real estate rebranding
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Balgopal Commercial's board approved forfeiture of 2,62,000 unexercised convertible warrants held by promoter Sandeep Jindal. Out of 45 lakh warrants allotted in January 2025 at Rs 60 each, 42.38 lakh were converted to equity. The remaining 2.62 lakh warrants lapsed, forfeiting Rs 39.30 lakh of subscription money. The company also approved amending its MOA to make real estate the sole main object, and changed its website and email to dreamaxgroup.com to reflect the new focus.
No further dilution as all warrants settled. Company rebranding to real estate under Dreamax Group identity may shift investor interest.