Tirupati Forge Limited has informed the Exchange about Advisory Letter recieved from NSE
TIRUPATIFL · price
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Tirupati Forge received an advisory letter from NSE dated August 4, 2025, flagging a delay in locking in convertible warrants issued on a preferential basis. Of the 1,17,60,000 warrants approved, 7,60,000 were locked in from May 2, 2025, and the remaining 1,10,00,000 were locked in from May 14, 2025, more than two months after the allotment date, violating the 3rd proviso of Regulation 167(1) of SEBI (ICDR) Regulations, 2018. NSE has warned that any repeat of such non-compliance will be viewed seriously and may attract further action. The company has stated there is no immediate financial or operational impact and is taking steps to ensure future compliance.
This is a procedural warning, not a penalty or enforcement action, so direct impact on shareholders is limited. However, repeated non-compliance could invite stricter regulatory action, which is a minor governance red flag worth monitoring.