Pursuant to the applicable provisions of the SEBI ICDR Regulations and the SEBI LODR Regulations, we wish to inform you that the Board of Directors of the Company, at its meeting held on ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vedavaag Systems Ltd has announced that 73,98,800 convertible warrants out of 79,38,000 total warrants have lapsed unexercised upon the expiry of the 18-month period on April 23, 2026. These warrants were allotted on October 23, 2024, at Rs. 63 per warrant to both Promoters and Non-Promoters. Only 5,39,200 warrants (roughly 6.8%) were exercised and converted into equity shares before the deadline. As per the terms of issue and SEBI ICDR Regulations, the 25% upfront amount paid for the lapsed warrants has been forfeited. The Board meeting to note this outcome was held on May 4, 2026.
The lapse of nearly 94% of the warrants is negative for the company as it will not receive the remaining 75% of the warrant issue price for those lapsed warrants. The forfeiture of upfront amounts provides some cash inflow, but the dilution that was expected from warrant conversions will not materialise for the majority of the warrants.