Flexituff Ventures International Limited has informed the Exchange about Forfeiture of the Convertible Warrants
FLEXITUFF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Flexituff Ventures International Limited had allotted 49,50,000 convertible warrants to 17 allottees in September 2024 at Rs. 41.75 per warrant (including a premium of Rs. 31.75) on a preferential basis, with 25% upfront payment received. As per the terms, warrant holders had 18 months to pay the remaining 75% and convert the warrants into equity shares, with the deadline of March 30, 2026. None of the 17 warrant holders exercised this conversion option, resulting in forfeiture of the total upfront amount of Rs. 5.17 crore. Since all warrants have lapsed, there is no change in the company's paid-up equity share capital. This means the planned equity infusion from these warrants will not materialise.
This is a mildly negative signal for the company — warrant holders chose not to convert to equity, suggesting limited confidence in the stock at the conversion price. However, the forfeiture adds Rs. 5.17 crore to the company's reserves, and importantly, there is no equity dilution since the warrants have lapsed entirely.