Naapbooks Ltd Forfeits Upfront Payments on Unexercised Warrants, Completes Equity Share Allotment
Naapbooks Ltd announced a significant outcome of its recent board meeting, detailing the forfeiture of initial payments related to warrants that were not converted within the prescribed timeframe. The company also confirmed the allotment of equity shares following successful warrant conversions, resulting in an increase in paid-up capital.The Board of Directors reviewed the status of convertible warrants and approved the forfeiture of the upfront amount received on 14,84,515 warrants that failed to be exercised by their holders within the 18-month period ending June 09, 2026. The total forfeited amount amounted to Rs. 2,26,38,890.
Concurrently, the Board decided on the allotment of 2,185 equity shares resulting from the conversion of warrants by one allottee in the Public category. This allotment was made on a pro-rata basis against the receipt of the required 75% payment amount. The issue price for these shares was Rs. 61/- per share.
The company detailed the status and forfeiture of the warrants, which included those held by Promoter and Promoter Group categories, as well as the Public category.
| Category | Total Warrants Allotted | Converted Warrants (Pro-Rata) | Lapsed/Cancelled Warrants | Upfront Amount Forfeited (Rs.) |
|---|---|---|---|---|
| Promoter | 4,85,000 | 0 | 4,85,000 | 9,23,70,000 |
| Promoter Group | 6,11,980 | 0 | 6,11,980 | 11,59,35,000 |
| Public (Non-Promoter) | 48,000 | 2,185 | 45,815 | 6,98,715 |
The company reported that the remaining number of warrants—specifically 14,38,700 allotted to Promoter and Promoter Group category allottees, and 45,815 allocated to Public category allottee—are lapsed or cancelled.
Capital Structure Update Post Allotment
Following the successful allotment of equity shares upon warrant conversion, Naapbooks Ltd reported changes in its capital structure. The paid-up equity share capital increased from Rs. 11,84,06,000/- (Rupees Eleven Crore Eighty-Four Lacs Six Thousand only), which was divided into 1,18,40,600 no. of equity shares with a face value of Rs. 10/- each.Post the allotment, the company's paid-up equity share capital stands at Rs. 11,84,27,850/- (Rupees Eleven Crores Eighty Four lacs Twenty-Seven thousand Eight hundred Fifty only). This amount is divided into 1,18,42,785 no. of equity shares, each having a face value of Rs. 10/-.
The newly allotted equity shares rank pari passu with the existing equity shares of the Company in all respects, including dividend, if any.
Stock Price Movement
Naapbooks Ltd. settled post-market on Wednesday after shares dipped 3.99%, concluding at ₹72.00. The equity traded within a range throughout the day, peaking at ₹73.00 but reaching lows of ₹70.00.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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