Intimation of Board approval for forfeiture of warrants and upfront amount thereon
KAMDHENU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Kamdhenu Limited approved the forfeiture of 14,97,200 warrants because the allottees failed to exercise their conversion right within the 18-month window, which expired on 22nd August 2025. As a result, the 25% upfront amount of Rs. 13.21 crore already paid by these allottees at the time of allotment stands forfeited. The forfeited warrants were held by four entities: Minerva Ventures Fund (6,97,200 warrants), NAV Capital VCC – NAV Capital Emerging Star Fund (5,00,000 warrants), Arrow Emerging Opportunities Fund Limited (2,00,000 warrants), and Ariston Capital Limited (1,00,000 warrants). This is the second communication issued on the same date regarding the same matter.
The forfeiture is a small, one-time event — the forfeited amount of Rs. 13.21 crore will be retained by the company as income, providing a minor boost to cash flow. Share dilution from these warrants is now off the table, which is mildly positive for existing shareholders. Overall impact on stock price is likely negligible.