Borosil Renewables Forfeits 1,12,578 Warrants Over Non-Payment

Borosil Renewables Ltd has announced the forfeiture of 1,12,578 warrants, originally allotted on February 14, 2025, due to the non-receipt of the balance payment within the stipulated period. The company's Board of Directors approved the cancellation of these warrants, which were to be converted into equity shares. Consequently, the upfront subscription money of ₹149,16,585 paid by the warrant holders has also been forfeited as per the terms of issue. This action leads to a minor adjustment in the utilization plan for the issue proceeds, reducing capital expenditure for solar glass production expansion by ₹4.47 Crores.