Flexituff Ventures International Ltd Forfeits Warrant Holders' Upfront Amount Due to Non-Exercise of Conversion Option

Flexituff Ventures International Ltd has forfeited the upfront amount paid by warrant holders, as they did not exercise the option for conversion into equity shares within 18 months from the date of allotment. The company allotted 49,50,000 convertible warrants to 17 allottees on a preferential basis. However, none of the allottees exercised the option to convert within the stipulated time. Consequently, the 25% upfront amount, amounting to INR 5,16,78,000, has been forfeited. This decision will not affect the paid-up equity share capital of the company.