Board approves forfeiture of 50 lakh unexercised convertible warrants

Board & Shareholder Meetings View source PDF

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AI summary

Board approved forfeiture of 50 lakh unexercised convertible warrants on June 30, 2026. Of the 12.9 crore warrants allotted in Nov 2024 at Rs 7.40 each (Rs 95.46 crore total), 12.4 crore were converted into equity shares. The remaining 50 lakh (25 lakh each from Unico Global Opportunities Fund and Forbes EMF) were not exercised by May 13, 2026 deadline and are forfeited per SEBI ICDR rules.

Likely market impact

Company retains upfront subscription money on forfeited warrants. No further equity dilution from these 50 lakh warrants.