The Board of Directors at its meeting held today i.e., 27 May, 2026 has approved the forfeiture of 1,78,00,000 share warrants due to non-exercise of conversion option within the stipulated timeline.
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RDB Infrastructure and Power Ltd's board meeting on 27th May 2026 approved the forfeiture of 1,78,00,000 share warrants held by 9 entities including Multitude Growth Funds Limited (1.5 crore warrants), due to non-exercise of conversion option before the deadline of 26th May 2026. Separately, 1,36,50,000 warrants were successfully converted into equity shares at Rs. 40.5 per warrant, generating Rs. 41.46 crore for the company. The paid-up capital increased to Rs. 22.37 crore. The company also reported strong FY26 results with standalone net profit of Rs. 12.52 crore (up 126% YoY from Rs. 5.54 crore) and revenue of Rs. 127.69 crore. An exceptional gain of Rs. 2.49 crore from the Anjana Project slump sale boosted profits.
Forfeiture of warrants means the company does not receive the remaining 75% conversion money from these holders, but the equity base remains stable. The successful conversion of 1.37 crore warrants and strong profit growth signal healthy investor interest. However, the large forfeiture from entities like Multitude Growth Funds may indicate some investor caution.