Indo Thai Securities: 60,500 Warrants Lapsed, Upfront Amount Forfeited

Indo Thai Securities Ltd announced that 60,500 convertible warrants have lapsed due to non-exercise of conversion option by allottees within the stipulated 18-month period. The company has forfeited the initial 25% upfront subscription amount received for these warrants, totaling Rs. 18,25,00,000. This action was approved by the Preferential Allotment Committee. The warrants were initially allotted on a preferential basis at Rs. 500 per warrant, later revised to Rs. 50 post-stock split. The lapse impacts 37,500 warrants held by Alpaben and 23,000 warrants held by Madhu Nanji Vekaria.