TT Ltd: ₹2.44 Cr Forfeited as Warrants Lapse

T T Ltd has announced the lapse and forfeiture of 8,00,000 convertible warrants originally issued on a preferential basis. The warrants, with an issue price of ₹122 each, were set to expire on June 15, 2026. As the warrant holders failed to pay the balance 75% consideration within the stipulated timeline, the warrants have lapsed. Consequently, the upfront subscription amount of ₹2.44 Crore (25% of the issue price) received at the time of allotment has been forfeited. This forfeiture is in line with SEBI ICDR Regulations. The warrant holders will lose all rights to conversion, and there will be no change in the company's paid-up share capital. The forfeited amount will be retained by the company. This matter will be placed before the Board of Directors for formal resolution.