In accordance with Regulation 32(6) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and applicable Regulation of the SEBI (Issue of Capital and Disclosure ....
MOTISONS · price
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Motisons Jewellers received a Monitoring Agency Report from CRISIL Ratings Limited for its Rs 170 crore preferential issue of fully convertible warrants (October 2024). As of March 31, 2026, only Rs 64.56 crore (38%) has been received and utilized, while Rs 105.44 crore remains unreceived. Critical issue: 82.7 lakh out of 1 crore warrants lapsed on April 4, 2026, because holders failed to pay the exercise price within the 18-month window. The subscription money was forfeited, causing a major shortfall that has impacted the viability of the issue's stated objects. Fund utilization includes Rs 33.89 crore for loan repayment, Rs 30.56 crore for working capital, and Rs 0.11 crore for issue expenses, with Rs 34.50 crore for general corporate purposes still untouched.
The non-exercise of 82.7% of warrants represents a significant capital shortfall, raising questions about investor commitment. The company now has limited funds to execute its planned objectives, particularly working capital expansion and general corporate purposes.