Key Event: Warrant Forfeiture

Bilcare Limited, a promoter of Caprihans India Limited, was holding 315,000 warrants of CIL. Each warrant had a face value of ₹200. The company decided not to exercise its option to convert these warrants into equity shares before the expiry of the prescribed exercise period, which was June 4, 2026.

Consequently, Bilcare received a communication from CIL on June 05, 2026, regarding the forfeiture of the 315,000 warrants along with the application money amounting to ₹1,57,50,000 (Rupees One Crore Fifty Seven Lakh Fifty Thousand only) that was paid on them.

Details of Change in Holding (Form C)

Disclosing Entity: Bilcare Limited (PAN: AABCB2242F, CIN: L28939PN1987PLC043953)

Category of Person: Promoter

Securities Held Prior to Transaction:

  • Equity Shares: 1,118,3325 shares (63.47% holding)
  • Convertible Warrants: 315,000 warrants (100% of this instrument)
  • 0.1% Non-cumulative, Non-Participating Redeemable Preference Shares (NPRPS): 13,792,500

Securities Disposed/Forfeited:

  • Type: Warrants
  • Quantity: 315,000
  • Transaction Type: Forfeiture
  • Reason: Lapsed on expiry of the exercise period on June 4, 2026.
  • Value: The total issue price for the warrants was ₹1,57,50,000. As per the note, 25% of this (₹39,37,500) was paid at the time of warrant allotment, and the remaining 75% (₹1,18,12,500) was payable upon conversion.

Securities Held Post Transaction:

  • Equity Shares: 1,118,3325 shares (63.47% holding) - No change
  • Convertible Warrants: 0
  • 0.1% Non-cumulative, Non-Participating Redeemable Preference Shares (NPRPS): 13,792,500 - No change

Transaction Dates:

  • Date of allotment advice/acquisition/sale: 05/06/2026
  • Date of intimation to company: 05/06/2026

Purpose and Rationale

The disclosure is made solely to comply with the mandatory requirements of SEBI's Prohibition of Insider Trading Regulations. No specific business rationale for the decision against conversion is provided in the disclosure.

Financial and Capital Structure Impact

  • Capital Structure: The non-conversion of warrants prevents potential dilution of CIL's equity share capital. The number of outstanding equity shares remains unchanged.
  • Financial Impact (on Bilcare): Bilcare has forfeited the application money of ₹1,57,50,000 that it had paid to CIL for these warrants. This represents a financial loss for Bilcare Limited.
  • Ownership Impact: Bilcare's promoter shareholding in CIL remains at 63.47% as the warrants were not converted into equity.

Parties Involved

  • Reporting Company: Caprihans India Limited (Scrip Code: 509486, TSIN: INE479A01018)
  • Promoter/Disclosing Entity: Bilcare Limited
  • Signatories: Rajesh P. Likhite (Company Secretary & Compliance Officer, Caprihans India Limited) and Sagar R. Baheti (Company Secretary, Bilcare Limited)