Suraj Estate Developers Ltd: Warrants Conversion Option Lapse Leads to Forfeiture
Suraj Estate Developers Ltd reported that a warrant holder did not exercise the conversion option for 13,30,000 convertible warrants within the stipulated period. The warrants were initially allotted to the warrant holder on a preferential basis at an issue price of Rs. 750 per warrant.The initial transaction saw the company receive ₹49,87,50,000, which represented 50% of the total issue price for the 13,30,000 convertible warrants.
The company stated that since the warrant holder failed to exercise the conversion option for the said 13,30,000 warrants on or before April 8, 2026, the amount received stands forfeited. This forfeiture occurs as per the provision of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
SURAJEST Stock Price Movement
Suraj Estate Developers Limited shares slipped by 0.36% today, settling at ₹209.17 in post-market trading. The stock saw a total traded volume of 104,061 shares.Source:
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