W S Industries (I) Limited has informed the Exchange about Forfeiture
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W.S. Industries informed the exchanges that its Allotment Committee approved converting 33,444 convertible warrants into equity shares at ₹149.50 per share, raising about ₹37.50 lakh from a Promoter Group holder (Mamatha P). The remaining 18,66,222 warrants held by 10 non-promoter warrant holders were not exercised before the 4th March 2026 deadline and have been forfeited. As a result, the 25% upfront subscription money of about ₹6.97 crore already paid by these holders stands forfeited to the company. The original preferential issue was approved in May 2024 for 27,15,722 warrants, of which only a small portion was ultimately converted.
Marginal equity dilution from 33,444 new shares is minimal, but the forfeiture of ₹6.97 crore in upfront money is a one-time gain for the company. The fact that nearly all non-promoter warrant holders failed to pay the balance 75% within the deadline signals weak funding commitment from non-promoter allottees, though Promoter Group participation continues.