Veranda Learning: ₹5 Cr Warrant Consideration Forfeited as Warrants Lapse

Veranda Learning Solutions Ltd announced that 6,23,054 convertible warrants, allotted on a preferential basis on February 27, 2025, have lapsed. The company did not receive the balance 75% consideration from warrant holders within the stipulated 18-month period, which ended on August 27, 2026. Consequently, the upfront subscription amount of 25%, totaling ₹5,00,00,083.50, has been forfeited. The lapse means warrant holders lose their right to convert these 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 forfeited amount was split equally between two warrant holders, Mr. Jitendra Kantilal Shah and Mr. Sreedhar Muppala.