Announced Tue, 30 Jun · 19:17 IST
Forfeiture of 50 Lakh Unconverted Warrants
Corporate Actions View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+2.3%1-day move
₹1.32
prior close
₹1.32
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.8+4.5+4.5+4.5+2.3+1.5-1.5-1.5-4.5-3.8-10.6———
Up moveDown movePending
AI summary
The board approved forfeiture of 50,00,000 unexercised convertible warrants. These were part of 12,90,00,000 warrants allotted in November 2024 at Rs. 7.40 each on a preferential basis. 12,40,00,000 warrants were already converted into equity shares. The 50 lakh unexercised warrants belonged to Unico Global Opportunities Fund (25 lakh) and Forbes EMF (25 lakh). The company retains the initial 25% subscription money already received on these warrants.
Likely market impact
Minor negative — company loses the remaining 75% conversion money on 50 lakh warrants. However, 96% of warrants were already converted, limiting dilution and impact.