Akme Fintrade (India) Limited has intimated the lapse and forfeiture of 20,00,000 convertible warrants issued through a preferential allotment.
The warrants were originally allotted on January 30, 2025 to non-promoter category investors at an issue price of ₹111 per warrant (including face value of ₹10 each), aggregating to ₹22,20,00,000. In accordance with Regulation 162 of the SEBI ICDR Regulations, 25% of the issue price (₹5,55,00,000) was received as upfront subscription amount at the time of allotment, with the balance 75% payable at the time of exercise within 18 months from the date of allotment (on or before July 29, 2026).
Since the company did not receive the balance 75% consideration from the warrant holders within the stipulated timeline, the outstanding warrants have lapsed upon expiry of the exercise period (July 29, 2026). Consequently, with effect from July 30, 2026, the upfront subscription amount of ₹5,55,00,000 stands forfeited in line with Regulation 169(3) of Chapter V of the SEBI ICDR Regulations.
The warrant holders have ceased to have any rights or entitlement to seek conversion into equity shares of the company. There will be no change in the paid-up share capital of the company pursuant to this lapse. The forfeited amount will be retained by the company and accounted for in accordance with applicable accounting standards.
Warrant Holder Details
- Mr. Shubhash P Rathod: 10,00,000 warrants lapsed, ₹2,77,50,000 forfeited
- Mr. Saajan Subhash Rathod: 5,00,000 warrants lapsed, ₹1,38,75,000 forfeited
- Mr. Mayank Subhash Rathod: 5,00,000 warrants lapsed, ₹1,38,75,000 forfeited
- Total: 20,00,000 warrants lapsed, ₹5,55,00,000 forfeited
This matter will be taken up at the forthcoming meeting of the Board of Directors where necessary resolutions will be passed. The disclosure is made pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular reference no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.