Containe Technologies Ltd Forfeits Outstanding Warrants After Non-Exercise by Holders
Containe Technologies Ltd announced that its Board of Directors approved the forfeiture of outstanding warrants following the expiry of the conversion option period for the warrant holders. The board meeting addressing this action was held on April 10, 2026.The company had previously informed the market regarding warrant allotments. Earlier on September 5, 2024, the Board had allotted 24,50,000 Equity Share Warrants. These warrants had a face value of Rs. 10/- each and were issued at an issue price of Rs. 86/- per equity share, incorporating a premium of Rs. 76/- each. The allotment gave warrant holders the right to apply for and be allotted one Equity Share of face value Rs. 10/- within 18 months from the warrant allotment date of October 10, 2024.
Further updates included an intimation dated April 9, 2026, stating that the company had allotted 7,50,000 convertible warrants to one allottee on a preferential basis at an issue price of Rs. 86/- per warrant.
The stipulated last date for exercising the option to convert warrants into equity shares was April 9, 2026. Since the conversion option was not exercised by the warrant holders listed in the accompanying details for 17,00,000 warrants within the stipulated time, the Board of Directors considered and approved the forfeiture of these outstanding warrants.
The table below details the warrants that were not converted and are liable for forfeiture:
| S. No. | Name of Warrant holder | No. of Warrants applied for | Conversion of Warrants into Equity Shares (No.) | No. of Warrants on which Conversion option is not exercised and liable for forfeited |
|---|---|---|---|---|
| 1 | Gaurav Mittal | 5,00,000 | 0 | 5,00,000 |
| 2 | Adit Mittal | 5,00,000 | 0 | 5,00,000 |
| 3 | Pushpa Bhaju | 7,50,000 | 7,50,000 | 0 |
| 4 | Ahanna Bhatia | 2,00,000 | 0 | 2,00,000 |
| 5 | Yojana Sunil Tambe | 50,000 | 0 | 50,000 |
| 6 | SRM Value Growth Investments Private Limited | 78,000 | 0 | 78,000 |
| 7 | Pradeep Nandal | 40,000 | 0 | 40,000 |
| 8 | Deepika Garg | 40,000 | 0 | 40,000 |
| 9 | Kapish Jain | 40,000 | 0 | 40,000 |
| 10 | Archana Gangal | 8,000 | 0 | 8,000 |
| 11 | Ashish Dohare | 36,000 | 0 | 36,000 |
| 12 | Harjot Singh Chadda | 20,000 | 0 | 20,000 |
| 13 | Sushila Jain | 6,000 | 0 | 6,000 |
| 14 | Shaurya Garg | 46,000 | 0 | 46,000 |
| 15 | Kaushal Sunil Tambe | 76,000 | 0 | 76,000 |
| 16 | Karl Savio Monteiro | 60,000 | 0 | 60,000 |
The warrants were initially issued at a rate of Rs. 86/- per warrant. It was noted that the warrant holders paid 25% of the amount at the time of warrant allotment. The forfeiture of warrants is applicable on the non-exercise of the option by the warrant holders to convert the warrants into equity shares within the 18-month time limit from the date of allotment.
Stock Price Movement
For the close on Friday, Containe Technologies Ltd finished at ₹18.27, posting a strong daily gain of 9.99%. Shares moved throughout the session, ranging between a low of ₹18.00 and a high of ₹18.27.Source:
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