Crown Lifters Limited has informed the Exchange about Forfeiture due to Non-exercise of option to convert Warrants
CROWN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crown Lifters Limited has forfeited 5,10,000 convertible equity warrants held by 9 warrant holders who failed to exercise their conversion option within the stipulated 18-month period ending May 11, 2026. The warrants were originally allotted on November 12, 2024, at Rs. 268 per warrant on a preferential basis. Warrant holders had paid 25% of the issue price (Rs. 67 per warrant) as initial subscription amount, totaling approximately Rs. 3.42 crore, which now stands forfeited to the company as per SEBI ICDR Regulations. The forfeited warrants represent about 58% of the originally allotted 8,76,656 warrants. No equity shares will be issued from these forfeited warrants.
For existing shareholders, this forfeiture is neutral to slightly positive as it prevents potential share dilution from warrant conversions. The company retains approximately Rs. 3.42 crore without issuing additional equity shares.