Panabyte Technologies: 3.5 Lakh Warrants Lapse, ₹42 Lakh Forfeited

Panabyte Technologies Ltd announced the lapse of 3,50,000 convertible warrants originally allotted to the promoter group on a preferential basis. The warrants, issued at ₹48 each, had a tenure of 18 months, with 25% of the issue price paid upfront and the balance due upon exercise by October 30, 2026. As the remaining 75% consideration was not received within the stipulated timeline, the warrants have lapsed. Consequently, the upfront subscription amount of ₹42,00,000 (25% of the issue price) stands forfeited. This lapse will not impact the company's paid-up share capital. The forfeiture is in line with SEBI ICDR Regulations.