Other9 April 2026 at 11:11 am
Suraj Estate Developers: No Conversion of Warrants, Forfeiture of Rs. 49.87 Crores
AI Summary
Suraj Estate Developers Ltd. has announced that the warrant holder did not exercise the conversion option of 13,30,000 convertible warrants within 18 months from the date of allotment. As per the SEBI regulations, the amount received on the said warrants, i.e., Rs. 49,87,50,000, stands forfeited. The company has requested to treat this as compliance under the applicable regulations and has made the disclosure available on their website.
Key Highlights
- Warrant holder did not exercise conversion option within 18 months
- Rs. 49,87,50,000 received on warrants stands forfeited
- Forfeiture in compliance with SEBI regulations
- Disclosure made available on the company's website