Reliance Infrastructure Limited has informed the Exchange about Conversion
RELINFRA · price
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Awaiting price reaction for this filing.
Reliance Infrastructure Limited has disclosed that 7.96 crore outstanding warrants have lapsed along with the amount paid on them. This happened because the warrants were not converted into equity shares within the mandated 18-month period. The company referenced its earlier letter dated October 30, 2024 when these warrants were initially issued. The lapse of such a large number of warrants suggests that investors or stakeholders did not exercise their conversion rights, which could indicate that the conversion price may not have been attractive relative to the prevailing stock price. The lapsed warrants and forfeited amounts represent a dilution that will not occur.
Shareholders face no immediate dilution impact since the warrants lapsed rather than being converted. However, this development signals weak demand for warrant conversion, which may reflect negatively on investor sentiment or the company's share price attractiveness.