Key Quantitative Figures
- Total warrants lapsed: 60,71,357
- Original issue price per warrant: ₹50
- Forfeited amount: ₹7,58,91,962.50 (25% of issue price on lapsed warrants)
- Date of original allotment: December 03, 2024
- Effective date of lapse: June 02, 2026
Transaction Details
The company had allotted 77,71,357 fully convertible warrants on preferential basis to promoter and non-promoter investors on December 03, 2024 at an issue price of ₹50 per warrant. Warrant holders were required to pay the balance 75% of the issue price within 18 months from the date of allotment to convert warrants into equity shares.
Current Development
The company did not receive the balance consideration for 60,71,357 warrants within the stipulated 18-month period ending June 02, 2026. Consequently, these warrants have lapsed and stand cancelled as per SEBI ICDR Regulations and terms of issue.
Financial Impact
The upfront subscription amount equivalent to 25% of the warrant issue price (₹12.50 per warrant) paid at the time of subscription for the lapsed warrants has been forfeited by the company, totaling ₹7,58,91,962.50.
Capital Structure Impact
There is no change in the paid-up share capital of the company on account of the lapse of these warrants.
Consequences of Lapse
- Warrant holders cease to have any rights or entitlement in relation to the lapsed warrants
- The warrants stand cancelled and extinguished
- Company has no further obligation to allot equity shares against these warrants
- Forfeited amount will be accounted for as per applicable accounting standards and regulatory requirements
Additional Information
The disclosure is made in compliance with Regulation 30 of SEBI LODR Regulations, 2015. The information is also available on the company's website at www.jhsretail.com.
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