Diamines & Chemicals Limited has informed the Exchange about Non‐exercise of option to convert of warrants under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
DIAMINESQ · price
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Diamines & Chemicals Limited has disclosed that 6,36,988 convertible warrants out of 9,06,390 allotted on October 1, 2024 have lapsed because the holders did not exercise the conversion option within the 18-month deadline (by March 31, 2026). Of these lapsed warrants, 3,23,388 were held by promoters and 3,13,600 by non-promoters. The subscription amount received on the lapsed warrants — ₹8,79,04,344 — stands forfeited as per SEBI ICDR Regulations. Only 2,69,402 warrants (2,63,602 promoter + 5,800 non-promoter) were converted into equity shares on March 24, 2026.
The forfeiture of warrants means the company retains the 25% subscription amount already paid (₹8.79 crore) without issuing corresponding shares, which is mildly positive for the company's cash position but dilutive for shareholders who expected warrant conversions.