AGS Transact Technologies Reports Lapse and Forfeiture of Convertible Warrants
AGS Transact Technologies Limited has reported the lapse and subsequent cancellation of a substantial portion of its convertible warrants, leading to the forfeiture of the upfront amounts received from the warrant holders.The company initially allotted 2,01,09,100 convertible warrants on August 14, 2024. These warrants were issued at a price of Rs. 79.25 per warrant, which included a premium of Rs. 69.25. The warrants are convertible into an equivalent number of equity shares, each having a face value of Rs. 10.
In accordance with the terms of issue, the warrant holders were entitled to exercise their conversion option within an 18-month period, which concluded on February 13, 2026.
During this tenure, Ravi Goyal Family Trust and Anupama Goyal Family Trust converted a combined total of 56,50,000 convertible warrants into equity shares. The remaining 1,44,59,100 warrants did not see any application for conversion and therefore lapsed on February 13, 2026.
Upon the lapse of these warrants, the company forfeited the upfront amount equivalent to 25% of the issue price. The details of the lapsed warrants and the total forfeited amount are detailed below.
Lapse Details and Forfeiture Summary
The conversion and lapse details indicate that a total of 1,44,59,100 warrants lapsed. The cumulative forfeited amount associated with these lapsed warrants, as calculated on the basis of the upfront payment, totals Rs. 28,64,70,918.75.The total warrant details—comprising warrants allotted, warrants exercised, and warrants lapsed—are summarized as follows:
| Particulars | Total No. of Warrants Allotted | No. of Warrants Exercised | No. of Warrants Lapsed | Total Upfront Amount Forfeited |
|---|---|---|---|---|
| Aggregate Totals | 2,01,09,100 | 56,50,000 | 1,44,59,100 | Rs. 28,64,70,918.75 |
Detailed Forfeiture Breakdown
The forfeited amounts are attributable to the non-exercise of warrants by various entities, categorized into Promoter/Promoter Group and Non-Promoter holders.The forfeiture details are further broken down by the specific warrant holders:
| Name of Applicant (Allottees) | No. of warrants allotted | Number of warrants pending for conversion | Upfront amount forfeited (Amount in ₹) |
|---|---|---|---|
| Ravi Goyal Family Trust | 69,00,000 | 22,50,000 | 4,45,78,125 |
| Anupama Goyal Family Trust | 69,00,000 | 59,00,000 | 11,68,93,750 |
| Ms. Jhil Ashit Mehta | 14,00,000 | 14,00,000 | 2,77,37,500.00 |
| Eminence Global Fund PCC - Eubilia Capital Partners Fund I | 10,84,100 | 10,84,100 | 2,14,78,731.25 |
| Mittal Analytics Private Limited | 5,00,000 | 5,00,000 | 99,06,250.00 |
| Mr. Tushar G. Agarwal | 5,00,000 | 5,00,000 | 99,06,250.00 |
| Mr. Rajiv Mehta | 4,00,000 | 4,00,000 | 79,25,000.00 |
| Mr. Debashish Neogi | 4,00,000 | 4,00,000 | 79,25,000.00 |
| Vivog Commercial Limited | 4,00,000 | 4,00,000 | 79,25,000.00 |
| Mr. Rajesh Rautela | 2,50,000 | 2,50,000 | 49,53,125.00 |
| Mr. Vineet Kumar | 2,50,000 | 2,50,000 | 49,53,125.00 |
The forfeiture process applies to the outstanding warrants that were not converted within the 18-month period. The company confirmed that there is no change in the paid-up equity share capital of the Company resulting from the lapse of these warrants.
AGSTRA Stock Price Movement
As of 3:10 PM, AGS Transact Technologies Limited shares are slipping by 4.86% in live trading, currently trading at ₹2.35. The stock plunged to its 52-week low, accompanied by significant selling volume of 57,379 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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