NON-EXERCISE OF OPTIONS TO CONVERT OF WARRANTS
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prime Industries Ltd had allotted 17,25,000 convertible warrants to 33 allottees on a preferential basis at Rs. 210 per warrant on May 14, 2024. An upfront 25% amount of about Rs. 90.56 lakh had already been collected at the time of allotment. None of the 33 allottees exercised their conversion option within the 18-month window that ended on November 13, 2025, so the entire 25% subscription amount stands forfeited under SEBI ICDR Regulation 169(3). As a result, no equity shares will be issued against these warrants, and the company retains the upfront money already paid.
Mildly positive for the company as it retains the Rs. 90.56 lakh upfront payment without any equity dilution. However, it signals weak investor confidence, as warrant holders chose not to convert at the Rs. 210 strike price, suggesting the stock has not performed favourably since allotment.