Kranti Industries Forfeits ₹50 Lakh Application Money

Kranti Industries Ltd's Board of Directors approved the forfeiture of ₹50 lakh application money received from Evolution Capital Advisory Services Private Limited due to the non-exercise of 2,50,000 warrants within the stipulated time. The warrants were part of a larger allotment of 15,00,000 warrants issued on October 23, 2024, at ₹80 per warrant, out of which 12,50,000 warrants had already been converted into equity shares. The warrant holder failed to convert the remaining warrants by the deadline of April 22, 2026, leading to the forfeiture and cancellation.