Corporate Action21 Aug 2026, 04:23 pm
Avro India: 3,23,450 Warrants Lapsed, ₹1.5 Cr Forfeited
AI Summary
Avro India Ltd announced the lapse of 3,23,450 convertible warrants originally allotted to the promoter group on a preferential basis. The warrants, issued at ₹185.50 each, lapsed on August 10, 2026, as the holders failed to pay the balance 75% consideration within the 18-month exercise period. Consequently, the upfront subscription amount of 25% (₹1,49,99,993.75) has been forfeited. The lapse will not impact the company's paid-up share capital. The matter will be presented to the Board of Directors for a formal resolution.
Key Highlights
- 3,23,450 warrants allotted to promoter group have lapsed.
- ₹1.5 Cr upfront payment forfeited due to non-payment of balance.
- No change in paid-up share capital expected.
- Warrant holders lose rights to convert into equity shares.
Price Impact
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