Corporate Action1 Mar 2026, 08:31 pm
Ind-Swift Laboratories: 65,00,000 Fully Convertible Warrants Lapse, ₹19,66,25,000 Forfeited
AI Summary
Ind-Swift Laboratories Ltd. has announced that 65,00,000 Fully Convertible Warrants, allotted to Saral Incorporated VCC Sub Fund on a preferential basis, have lapsed as the warrant holder did not exercise the option to convert within the stipulated period of 18 months from the date of allotment. The warrants were allotted on August 30, 2024, at an issue price of ₹121 per warrant. The upfront subscription amount of ₹19,66,25,000, which is 25% of the issue price, received at the time of allotment, stands forfeited by the Company.
Key Highlights
- 65,00,000 Fully Convertible Warrants allotted to Saral Incorporated VCC Sub Fund have lapsed.
- The warrants were allotted on August 30, 2024, at an issue price of ₹121 per warrant.
- The warrant holder did not exercise the option to convert within the stipulated period of 18 months.
- The upfront subscription amount of ₹19,66,25,000 stands forfeited by the Company.
- There is no change in the paid-up equity share capital of the Company pursuant to the above lapse of warrants.