W. S. Industries (India) Ltd. Forfeits Unexercised Warrants Worth ₹ 6,97,50,049

W. S. Industries (India) Ltd. has forfeited unexercised warrants worth ₹ 6,97,50,049. The allotment committee of the board of directors approved the conversion of certain convertible warrants into equity shares and the forfeiture of the remaining unexercised warrants. The warrants were issued on a preferential basis in accordance with Sections 42 and 62(1)(c) of the Companies Act, 2013 and Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company allotted 24,34,786 convertible warrants out of the 27,15,722 warrants approved at the Extra-Ordinary General Meeting held on 274 May 2024. 5,35,120 warrants were converted into equity shares, and the remaining 18,66,222 warrants were not exercised within the stipulated period and have been forfeited. The forfeiture amount stands at ₹ 6,97,50,049.