Mehai Technology: 11.86 Cr Warrants Lapse, ₹10.38 Cr Forfeited

Mehai Technology Ltd has announced the lapse and forfeiture of 11,86,00,000 convertible warrants. These warrants were part of a preferential issue approved earlier, involving a total of 28,00,00,000 warrants at an issue price of ₹3.50 per share. The holders of the lapsed warrants failed to pay the balance 75% consideration within the stipulated timeline, which expired on April 30, 2026. Consequently, the upfront subscription amount of 25%, totaling ₹10,37,75,000 (₹10.38 Crore), has been forfeited. The warrant holders will no longer have any rights to convert these warrants into equity shares. The company's paid-up share capital remains unchanged, and the forfeited amount will be retained and accounted for as per applicable standards. The lapse is in accordance with SEBI (ICDR) Regulations, 2018.