Intimation regarding lapse of warrants
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Fratelli Vineyards has informed BSE that 363,150 warrants out of 5,57,650 warrants allotted on a preferential basis on 23 August 2024 have lapsed, as the allottees failed to exercise their conversion option within the 18-month window that ended on 22 February 2026. During this period, 1,94,500 warrants were converted into equity shares. As a result, the company has forfeited the 25% upfront amount of Rs. 2,72,36,250 (about Rs 2.72 crore) that was paid at the time of allotment, in line with SEBI ICDR Regulations. The allottees include members of the Sekhri family and other promoter-related individuals, along with a few others.
For shareholders, this means no further equity dilution from these lapsed warrants, and the company retains the forfeited upfront amount as a windfall gain, slightly boosting its cash reserves. However, the failure of most allottees to convert signals weak confidence or funding issues at the allottee level, which could be viewed negatively by the market.