Lactose India Forfeits Convertible Warrants Worth INR 6.52 Crore After Holders Fail to Exercise Rights
Lactose India Ltd has confirmed the forfeiture of a tranche of Convertible Warrants after the holders failed to exercise their rights within the stipulated period, following a Board meeting held on June 18, 2026.The company had initially issued and allotted 15,00,000 Convertible Warrants (Warrants) to M/s. SG General Dealers LLP on December 5, 2024. The warrants were granted at a conversion price of INR 174/- per warrant, comprising INR 10/- as face value and INR 164/- premium.
The allotted warrants gave the holders the right to subscribe to one Equity Share of INR 10/- each against every Warrant within an eighteen month period from the date of allotment, which concluded on June 5, 2026.
As per the company's record, the warrant holders failed to exercise their rights to acquire the underlying Equity Shares before the deadline. Consequently, all 15,00,000 Warrants have lapsed and stand cancelled. The consideration amount of INR 6,52,50,000/- received by Lactose India Ltd from the warrant holder is now forfeited in accordance with the terms of the warrants.
The details of the allotment are provided below:
| Allotee | Number of Warrants Allotted |
|---|---|
| M/s. SG General Dealers LLP | 15,00,000 |
Stock Price Movement
Lactose India Ltd settled at ₹107.40 on Thursday, ticking up 0.51% after the close of trading. The shares experienced notable intraday volatility, moving between a low of ₹105.00 and a high of ₹109.70.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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