Key Quantitative Figures

  • Total warrants issued: 975,000 convertible warrants
  • Issue price per warrant: ₹2,100 (₹2 face value + ₹2,098 premium)
  • Initial 25% payment received: ₹51,18,75,000 (₹51.19 crore) on 14 August 2025
  • First conversion (640,000 warrants): ₹52,76,25,000 (₹52.76 crore) received by 27 March 2026
  • Second conversion (335,000 warrants): Additional ₹52,76,25,000 (₹52.76 crore) received by 9 June 2026
  • Total consideration received: ₹103,95,00,000 (₹103.95 crore)

Dates of Action

  • Special resolution passed: 28 June 2025
  • Warrant allotment date: 14 August 2025
  • First conversion payment deadline: 27 March 2026
  • Second conversion payment deadline: 9 June 2026
  • Auditor certificate date: 19 August 2026

Parties Involved

  • Issuer: Ramkrishna Forgings Limited (BSE: 532527, NSE: RKFORGE)
  • Statutory Auditors: S K Naredi & Co. LLP (FRN: 003333C/C400397) and S.R Batliboi Co. LLP (FRN: 301003E/E300005)
  • Allottee: Promoter of the company (specific name not disclosed)
  • Regulatory Authorities: BSE Limited, National Stock Exchange of India Limited, SEBI

Auditor's Verification Procedures

The auditor performed limited assurance procedures including:

  • Review of special resolution dated 28 June 2025 authorizing 975,000 warrants to a promoter
  • Review of Capital Market Committee resolution dated 14 August 2025 for warrant allotment
  • Verification of bank statements for August 2025 confirming receipt of 25% application money (₹51.19 crore)
  • Verification of bank statements for March 2026 confirming receipt of ₹52.76 crore for 640,000 warrants
  • Verification of bank statements for June 2026 confirming receipt of ₹52.76 crore for 335,000 warrants
  • Confirmation that funds were received from allottee's bank account without circulation or book entries

Capital Structure Impact

Each convertible warrant was converted into one equity share of face value ₹2 each with premium of ₹2,098, resulting in issuance of 975,000 equity shares to the promoter.

Restrictions and Limitations

The auditor's certificate is intended solely for submission to NSE and BSE regarding the preferential warrant conversion and cannot be used for any other purpose without prior written consent.