Please find the attached list of allottes regarding lapse of 9800000 warrants and forfeiture of upfront payment.
FEDDERSHOL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Fedders Holding had allotted 17.3 million convertible warrants in April 2024 on a preferential basis at ₹57.2 per share (face value ₹1 + premium of ₹56.2). The 18-month conversion window ended on 21 October 2025, and allottees failed to exercise their conversion option for 9.8 million warrants held by five persons (Sonal Singhal, Veena Bansal, Samyak Bansal, Satish Bansal and Santosh Devi Bansal). Consequently, the 25% upfront amount of ₹14.01 crore paid at allotment has been forfeited by the company as per SEBI (ICDR) Regulations. No further equity shares will be issued against these lapsed warrants. The largest default is from Sonal Singhal, holding 68.5 lakh unconverted warrants worth ₹9.79 crore of forfeited upfront money.
Marginally positive for the company — the forfeited ₹14.01 crore will be transferred to the Securities Premium account, strengthening reserves. However, the non-conversion signals weak investor appetite at the issue price and avoids near-term equity dilution for existing shareholders.