<h1>Manaksia Coated Metals Forfeits Application Money After Warrants Lapse</h1>
Manaksia Coated Metals & Industries Limited has confirmed the lapse of 20,00,000 Share Warrants and the subsequent forfeiture of application money in a resolution passed by its Board of Directors.
The decision was made following the failure of the warrant holder to remit the balance 75% of the warrant subscription amount within the stipulated eighteen months from the date of allotment. The warrants were originally issued on January 31, 2025, and held by AIO Growth Capital Fund SPC.
As a result of the lapse, the company forfeited the application money equivalent to 25% of the aggregate warrant subscription amount. This forfeiture corresponds to an amount of ₹3,25,00,000.
Manaksia Coated Metals stated that this lapse and the associated forfeiture will not cause any change in the issued, subscribed, or paid-up equity share capital of the company, as no equity shares were allotted against these warrants.
MANAKCOAT Stock Price Movement
Manaksia Coated Metals & Industries Limited shares today slipped by 1.73% to settle at ₹119.42, following a post-market session. The equity traded on a volume of 242,862 shares, closing down ₹2.08 from its previous close.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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