Corporate Action13 Apr 2026, 12:57 pm
Pakka: 36 Lakh Warrants Lapse, ₹24.48 Cr Upfront Amount Forfeited
AI Summary
Pakka Ltd announced the lapse of 36,00,000 fully convertible warrants that were allotted on a preferential basis on October 14, 2024, at an issue price of ₹272 per warrant. The warrant holders, Carelian Bharat Amritkaal Fund and Carnelian Asset Management LLP, failed to exercise their option to convert these warrants into equity shares within the stipulated 18-month period, which ended on April 13, 2026. As a result, the warrants have lapsed, and the company has forfeited the upfront amount equivalent to 25% of the issue price, totaling ₹24,48,00,000. This lapse does not lead to any change in the paid-up equity share capital of the company.
Key Highlights
- 36 lakh fully convertible warrants of Pakka Ltd have lapsed.
- The company forfeited ₹24.48 crore upfront amount from the warrants.
- Warrants were allotted at ₹272 each on a preferential basis.
- Warrant holders failed to convert within the 18-month period.
- No change in paid-up equity share capital due to the lapse.