Reliance Power Limited Update on Outstanding Warrants
RPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Reliance Power Limited has disclosed that 21.82 crore outstanding warrants have lapsed along with the application money paid on them, because they were not converted into equity shares within the mandated 18-month period. The company referenced a prior letter dated October 29, 2024 which originally disclosed these warrants. The lapsing means the company will not receive the balance subscription money tied to these warrants and shareholders will not receive the expected dilution from conversion.
The non-conversion of warrants removes a potential share dilution event, which is neutral-to-marginally positive for existing shareholders in the short term, but the lapsing of paid-up warrants also means the company forgoes the remaining capital that was expected to be raised through conversion.