Corporate Action4 May 2026, 05:51 pm
Bannari Amman Forfeits Convertible Share Warrants
AI Summary
Bannari Amman Spinning Mills Ltd has forfeited convertible share warrants issued on November 4, 2024, as allottees failed to pay the balance subscription amount by the deadline of May 3, 2026. The warrants, convertible into equity shares within 18 months of issuance, were forfeited in accordance with SEBI regulations and a shareholder resolution. The Board of Directors will address the matter in an upcoming meeting to pass the necessary resolution.
Key Highlights
- Bannari Amman forfeited convertible share warrants issued on 4.11.2024.
- Allottees failed to pay the balance subscription amount by the deadline.
- Forfeiture is in line with SEBI regulations and shareholder resolution.
- Board of Directors will address the matter in an upcoming meeting.
- 32,25,806 warrants of M/s Murugan Enterprise Private Limited were forfeited.
Price Impact
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