Crown Lifters Limited Announces Forfeiture of Convertible Warrant Funds Due to Non-Exercise
Crown Lifters Limited reported on May 12, 2026, that a portion of convertible equity warrants originally allotted to various holders have seen their conversion options lapse. The company confirmed that funds associated with 5,10,000 warrants, which were not converted within the stipulated 18-month period, are liable for forfeiture.The forfeiture relates to warrants that were initially allotted on a preferential basis. At the time of the initial allotment, Crown Lifters Limited had allotted a total of 8,76,656 convertible Equity Warrants to 17 allottees. The warrants were issued at an issue price of Rs. 268 per warrant. Upon allotment, an initial subscription amount of Rs. 5,87,35,952 was received, representing 25% of the total issue price.
The period for converting the warrants expired on or before May 11, 2026. Consequently, the amounts received on 5,10,000 pending warrants, belonging to the persons listed, were forfeited.
The details of the warrant holders and the quantity of warrants whose conversion options were not exercised, leading to the forfeiture, are presented below:
| Sr. 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 Forfeiture |
|---|---|---|---|---|
| 1 | Narender Kumar Rastogi | 25,000 | Nil | 25,000 |
| 2 | Best Containers Private Limited | 50,000 | Nil | 50,000 |
| 3 | Saket Agrawal | 1,00,000 | Nil | 1,00,000 |
| 4 | Amit P Verma | 50,000 | Nil | 50,000 |
| 5 | Priyanka Kapil Sharma | 50,000 | Nil | 50,000 |
| 6 | Kavita Bansal | 10,000 | Nil | 10,000 |
| 7 | Pushkar Mal Gupta | 50,000 | Nil | 50,000 |
| 8 | Deepdive Media Pvt. Ltd. | 1,00,000 | Nil | 1,00,000 |
| 9 | Laila Malik Batala | 25,000 | Nil | 25,000 |
| Total | 5,10,000 | Nil | 5,10,000 |
The warrants were issued at the rate of Rs. 268 per warrant, with warrant holders paying 25% of the issue price (Rs. 67 per warrant) at the time of allotment. The forfeiture applies because the option to convert was not exercised within the stipulated 18-month period.
CROWN Stock Price Movement
Today, Crown Lifters Limited shares slipped by 10.36% to close at ₹131.91. The stock settled on a volume of 31,029 shares, signaling a strong bearish shift during the trading session.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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