Motisons Jewellers Announces Lapse of 82,70,000 Warrants
Motisons Jewellers Limited reported that a total of 82,70,000 warrants have lapsed due to the non-exercise of conversion rights by certain warrant holders.The lapse occurred upon the expiration of the stipulated 18-month period from the warrant allotment date, which was October 05, 2024. Consequently, the amount previously received against these lapsed warrants stands forfeited.
Previously, the company had allotted warrants that were convertible into, or exchangeable for, one equity share of face value of Rs. 10/- each. The initial issuance structure involved a warrant subscription price of Rs. 42.50 per warrant and a warrant exercise price of Rs. 127.50 per warrant, making the total value per warrant Rs. 170/- each.
The conversion process for the warrants was subject to a change following a stock split/sub-division effective November 08, 2024. This action changed the face value of Equity Shares from Rs. 10/- each to Re. 1/- each, resulting in 10 Equity Shares of Re. 1/- each for every 1 Equity Share of Rs. 10/- each. After this change, one warrant was convertible into 10 Equity Shares of Re. 1/- (Rupee One Only) upon payment of the remaining 75% consideration within the specified time limit.
Details regarding the warrants that have not been converted and subsequently lapsed are provided below.
| S. No. | Name of Allottees | Category | No. of warrants Allotted | Conversion of Warrants into Equity Shares | No. of Warrants Lapsed |
|---|---|---|---|---|---|
| 1. | North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund | 'NON- PROMOTER, PUBLIC | 35,00,000 | 0 | 35,00,000 |
| 2. | Eminence Global Fund PCC- Eubilia Capital Partners Fund I | 'NON- PROMOTER, PUBLIC | 35,00,000 | 7,90,000 | 27,10,000 |
| 3. | Nexpact Limited | 'NON- PROMOTER, PUBLIC | 30,00,000 | 9,40,000 | 20,60,000 |
| Total | Total | Total | 1,00,00,000 | 17,30,000 | 82,70,000 |
Motisons Jewellers Limited shares on Thursday closed at 12.45, representing a 1.65% jump from the previous close, as the stock traded between a low of 11.44 and a high of 13.85. The considerable volume of shares traded throughout the session suggests active market participation in the security.
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