Marble City India Ltd Forfeits Unexercised Warrants Worth Over 2.87 Crores
Marble City India Ltd has approved the forfeiture and lapse of a significant number of unexercised convertible warrants that were issued during a preferential allotment process. The board decision, made on July 24, 2026, confirmed that warrant holders who failed to convert their options into equity shares within the prescribed period will forfeit their upfront consideration.The company had previously allocated up to 22,45,000 fully convertible warrants, which were allotted to Non-Promoter, Public Category individuals at an issue price of Rs. 100.50 per warrant. This issuance was intended to raise a total amount of up to Rs. 4,89,28,425/-.
The terms of the preferential allotment stipulated that while the allotment required payment of upfront consideration—which must be at least 25% of the determined value—the balance would be payable upon exercise. If the warrant holder did not convert their warrants into equity shares within the allotted tenure, the upfront amount paid was subject to forfeiture by the company.
According to details provided by the company, a total of 19,47,400 convertible warrants were originally allotted on January 24, 2025. Of these, 8,05,000 warrants were exercised, resulting in equity share allotments. Consequently, 11,42,400 warrants have lapsed and been forfeited.
The amount corresponding to the forfeiture of these unexercised warrants has been determined as Rs. 2,87,02,800.
Warrant Status Summary
The following table provides a summary of the warrant status upon which the forfeiture decision was based:| Particulars | Details |
|---|---|
| Total Warrants Allotted | 19,47,400 |
| Number of Warrants Exercised | 8,05,000 |
| Number of Warrants Forfeited/Lapsed | 11,42,400 |
| Amount Forfeited | Rs. 2,87,02,800 |
Despite the forfeiture and lapse of these warrants, which totaled a consideration amount equivalent to the upfront payment, there was no change in the issued, subscribed, and paid-up equity share capital of Marble City India Ltd as only 10 equity shares were allotted following the exercise of the warrants.
Stock Price Movement
Marble City India Ltd settled at ₹119.95 on Friday, edging higher after closing up 0.88%. The shares navigated a tight trading range throughout the day, moving between an intraday low of ₹117.60 and the high reached during the session at ₹119.95.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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