Drone Destination Limited Forfeits Warrant Conversion Amounts
Drone Destination Limited announced that it will forfeit amounts received from warrant holders who did not exercise their conversion options. The decision follows the expiration of an 18-month conversion period for 600,000 warrants.In September 2024, the company received in-principle approval and subsequently allotted 700,000 convertible warrants at a price of ₹ 187 per warrant, totaling ₹ 13,09,00,000. Each warrant provided holders the right to convert into one equity share with a premium of ₹ 177.As of March 20, 2026, 100,000 warrants were converted into equity shares from two allottees, generating ₹ 1,40,25,000. Subsequently, the remaining 600,000 warrants were not...