24 lakh promoter warrants lapse; Rs 30.30 cr forfeited

Board & Shareholder Meetings View source PDF

PAVNAIND · price

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₹16.23

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₹16.78

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AI summary

Pavna Industries board on July 27, 2026 approved the lapse of 24 lakh convertible warrants held by promoter group (Asha, Swapnil and Priya Jain). Warrants were issued at Rs 505 each in Jan 2025; holders failed to pay the 75 percent balance within 18 months. The 25 percent upfront amount of Rs 30.30 crore stands forfeited. No change in paid-up share capital. Board also identified 38 senior management personnel and appointed M/s Suri and Sudhir as internal auditor for FY 2026-27.

Likely market impact

Promoter warrants lapse, forfeiting Rs 30.30 cr; no equity dilution but signals weak promoter funding commitment.