Motisons Jewellers Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ‐ Non‐exercise of option to convert warrants.'.
MOTISONS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Motisons Jewellers informed the exchanges that 82,70,000 warrants allotted on a preferential basis on October 5, 2024 have lapsed because the holders did not exercise their conversion option within the 18-month window ending April 5, 2026. Of the 1,00,00,000 warrants originally allotted to three non-promoter public entities, only 17,30,000 were converted into equity shares. The lapsed warrants belonged to North Star Opportunities Fund (35 lakh), Eminence Global Fund (27.1 lakh), and Nexpact Limited (20.6 lakh). As a result, the subscription money already paid for these warrants stands forfeited to the company. Each warrant was convertible into 10 equity shares of Re. 1 face value (post stock split) at a total exercise price of Rs. 170 per warrant.
This is mildly negative for the stock as it signals that key investors were unwilling to pay the full exercise price of Rs. 170 per warrant, suggesting they see limited upside at current levels. On the positive side, expected equity dilution is lower than originally anticipated and the company retains the forfeited subscription amounts (approximately Rs. 35 crore) as additional capital.