Corporate Action10 April 2026 at 11:31 am
Containe Technologies Forfeits 1.7M Warrants Worth ₹3.65 Cr
AI Summary
Containe Technologies Ltd's Board of Directors, in a meeting on April 10, 2026, approved the forfeiture of 17,00,000 equity share warrants. These warrants were initially allotted on a preferential basis on October 10, 2024, at an issue price of ₹86 per share, with a conversion period of 18 months. The last date for conversion was April 9, 2026. Due to the non-exercise of the conversion option by several warrant holders, the company has forfeited the 25% advance payment made at the time of allotment. This amounts to a total forfeiture of ₹3,65,50,000 (₹3.655 crore), in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Key Highlights
- Board approved forfeiture of 1.7 million equity share warrants.
- Warrants issued at ₹86 each were not converted by holders.
- Company forfeited 25% advance payment, totaling ₹3.655 crore.
- Action taken due to non-exercise of conversion option by deadline.
- This aligns with SEBI ICDR Regulations, 2018.