Spectrum Talent Management Announces Lapse and Forfeiture of Convertible Warrants
Spectrum Talent Management Limited has confirmed the lapse and subsequent forfeiture of 1,500,000 Convertible Warrants that were previously issued under a preferential allotment.The warrants, which were part of a series initiated following an Extra-Ordinary General Meeting on December 06, 2024, involved the issuance of Fully Convertible Equity Warrants to promoter and non-promoter public categories. These warrants were allotted at an issue price of Rs. 165/- per warrant (including a face value of Rs. 10/each), for an aggregate amount totaling Rs. 24,75,00,000/- (Rs. 24.75 Crore).
The terms of the issuance stipulated that 25% of the issue price was to be received upfront as initial subscription during allotment. The remaining 75% of the consideration was due upon the exercise of the warrants within a period of 18 months from the date of allotment, which set the deadline for July 30, 2026.
As the company did not receive the balance 75% consideration from warrant holders by the stipulated timeline, the outstanding warrants lapsed on July 30, 2026. Consequently, effective from July 31, 2026, the upfront subscription amount for these warrants stands forfeited.
The total forfeited amount is Rs. 6,18,75,000/- (Rupees Six Crores Eighteen Lakhs Seventy-Five Thousand Only), representing the initial 25% of the issue price (Rs. 41.25/- per warrant).
Upon the lapse of the warrants, all warrant holders have ceased to possess any rights or entitlement to convert these instruments into equity shares of Spectrum Talent Management Limited. The company confirmed that there will be no change in its paid-up share capital structure resulting from this event, and the forfeited amount shall be retained by the Company and accounted for as per applicable accounting standards.
Convertible Warrants Details Summary
The following table details the specifics of the warrant issuance and forfeiture:| Particulars | Details |
|---|---|
| Type of securities | Convertible Warrants |
| Type of issuance | Preferential Allotment |
| Total number of warrants originally allotted | 15,00,000 Warrants |
| Issue price per warrant | Rs. 165/- |
| Date of allotment | January 30, 2026 |
| Tenure | 18 months from Allotment up to July 30, 2026 |
| Number of warrants lapsed | 15,00,000 Warrants |
| Amount forfeited | Rs. 6,18,75,000/- |
| Change in capital structure | Nil |
Warrant Holders Breakdown
The forfeiture concerns the initial subscription amount received from various categories of warrant holders, as detailed below:| Category / Holder Name | Number of Warrants Allotted / Lapsed | Amount Forfeited (₹) |
|---|---|---|
| Promoter / Promoter Group | ||
| Mr. Vidur Gupta | 3,75,000 | Rs. 1,54,68,750/- |
| Mr. Sidharth Agarwal | 3,75,000 | Rs. 1,54,68,750/- |
| Sub-Total (A) | 7,50,000 | Rs. 3,09,37,500/- |
| Non-Promoter, Public Category | ||
| Eminence Global Fund PCC - Eubilia Capital Partners Fund I | 2,50,000 | Rs. 1,03,12,500/- |
| North Star Opportunities Fund VCC - Bull Value Incorporated VCC Sub-Fund | 2,50,000 | Rs. 1,03,12,500/- |
| Multitude Growth Funds Limited | 2,50,000 | Rs. 1,03,12,500/- |
| Sub-Total (B) | 7,50,000 | Rs. 3,09,37,500/- |
| Grand Total | 15,00,000 | Rs. 6,18,75,000/- |
SPECTSTM Stock Price Movement
As of 2:06 PM, shares of Spectrum Talent Management Limited are slipping by 1.55% in live trading, currently priced at ₹69.9 from its previous close. The stock is trading on a volume of 8,000 shares, moving within an intraday range that spans between ₹69.35 and ₹69.9.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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