RUSHIL: Rushil Decor Limited has informed the Exchange about Forfeiture due to non-exercise of option on conversion of warrants.
RUSHIL · price
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Awaiting price reaction for this filing.
Rushil Decor informed the exchanges that 3,30,000 convertible warrants (out of 41,30,000 originally allotted in December 2023) have been forfeited because the holders did not exercise their conversion option within the 18-month window ending June 22, 2025. The warrants were issued at Rs. 297 each on a preferential basis, with 25% upfront money already collected. The 25% amount paid on these 3,30,000 warrants (roughly Rs. 2.45 crore) will now be retained by the company as per SEBI rules. A small portion (30,000 warrants held by two allottees) was partially converted into equity shares on the same date.
Minor positive for existing shareholders — the forfeited warrants will not dilute equity, and the company retains the ~Rs. 2.45 crore upfront payments as income. The event also signals weak conviction among some of the original allottees, though the broader fundraising from 2023 remains largely intact.