Corporate Action27 Jul 2026, 08:40 pm
Pavna Industries Forfeits ₹30.3 Cr from Lapsed Warrants
AI Summary
Pavna Industries Ltd announced the lapse and forfeiture of 24,00,000 convertible warrants issued under SEBI ICDR Regulations. The warrants, issued on preferential basis to promoter and promoter group, had a balance payment due by July 28, 2026. Warrant holders informed the company they could not meet the deadline. Consequently, the upfront subscription amount of ₹30.30 Crore (25% of issue price) stands forfeited. The company also identified new Senior Management Personnel (SMPs) following an internal restructuring. There will be no change in paid-up share capital.
Key Highlights
- 24 lakh convertible warrants lapsed due to non-payment of balance consideration.
- ₹30.30 Crore upfront payment forfeited by the company.
- No change in paid-up share capital expected.
- New Senior Management Personnel identified after restructuring.
Price Impact
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