Warrants Lapse and Forfeiture by Indo Thai Securities
INDOTHAI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indo Thai Securities informed that 60,500 convertible warrants allotted to 2 allottees (Alpaben and Madhu Nanji Vekaria) in January 2025 have lapsed as they did not exercise conversion within 18 months. The 25 percent upfront subscription amount on these warrants will be forfeited. Separately, 99,500 warrants from these 2 holders were already converted into 9,95,000 equity shares post stock split. The company had originally allotted 14.6 lakh warrants to 26 allottees at about Rs 500 each.
Mildly negative for the 2 non-converting allottees who lose their 25 percent upfront amount. Dilution from 6.05 lakh unallotted shares is avoided.