Lactose India Ltd: Boards Approves Forfeiture of 15 Lakh Convertible Warrants
FUNDRAISE
▲ Positive Development
LOW RISK
📅 Filed on BSE: 18 Jun 2026, 04:04 PM IST · BSE ID: 6a01a673-fadb-48c8-9002-c3ba152af41c
View Original BSE Filing (PDF)
💡
In Simple Terms
The company cancelled 15 lakh share warrants because the buyer missed the conversion deadline. Their initial payment is forfeited.
🤖 AI Summary
- Lactose India Ltd approved forfeiture of 15,00,000 convertible warrants.
- Warrants were issued December 5, 2024, at an INR 174 conversion price.
- Allottee SG General Dealers LLP failed to exercise rights by June 5, 2026.
- Company forfeits INR 6,52,50,000 of consideration received.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Number of Convertible Warrants Forfeited
15,00,000
Conversion Price per Warrant
INR. 174/-
Consideration Received and Forfeited
INR 6,52,50,000/-
Date of Allotment
December 5, 2024
Warrant Exercise Deadline
June 5, 2026
Name of Allottee
M/s. SG General Dealers LLP
🏢 How This Affects the Company
The company retains INR 6,52,50,000, representing 25% of the total consideration for the forfeited warrants, strengthening its cash position.
The forfeiture of warrants due to non-exercise by the allottee removes potential dilution associated with these warrants.
👥 What This Means For Shareholders
✅
Action Required
No action is required from shareholders regarding this board decision.
👤
Who Is Affected
Shareholders are affected as the 15,00,000 convertible warrants will not be converted, preventing potential equity dilution.
🔍
Management Signal
Management's action signals adherence to the terms of warrant issuance and commitment to the company's capital structure.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Confirmation of forfeiture execution in subsequent filings.
Updated financial statements reflecting retained consideration.
Any future issuance of equity or debt instruments.
LOW RISK
Board decision to forfeit warrants due to non-exercise by the allottee is a procedural event.
💡 Investor Takeaway
Lactose India Ltd forfeited 15,00,000 warrants due to non-exercise by SG General Dealers LLP, retaining INR 6,52,50,000 of consideration.
⚖️ Strengths & Concerns
✅ Positives
- Company retains INR 6,52,50,000 consideration from forfeited warrants.
⚠️ Concerns
- Warrant holders failed to exercise conversion rights by the June 5, 2026 deadline.
❓ Frequently Asked Questions
What decision did Lactose India Ltd's board make regarding convertible warrants?
The board approved the forfeiture of 15,00,000 convertible warrants that were issued on December 5, 2024.
Why were the convertible warrants forfeited by Lactose India Ltd?
The warrants were forfeited because the allottee, M/s. SG General Dealers LLP, failed to exercise their right to convert them into equity shares by the June 5, 2026 deadline.
How much consideration did Lactose India Ltd forfeit from the warrant holders?
Lactose India Ltd forfeited INR 6,52,50,000/-, which represents 25% of the total consideration received for the allotment of these warrants.
What was the conversion price for the forfeited warrants of Lactose India Ltd?
The conversion price for each warrant was INR 174/-, comprising a face value of INR 10/- and a premium of INR 164/-.
Questions based on this BSE filing only. For information purposes.