Ramkrishna Forgings Limited has received an independent auditor’s certificate confirming full compliance with regulatory requirements regarding the conversion of share warrants. The certification validates the receipt of 75% of the warrant value for 640,000 warrants, following the initial 25% application money received in August 2025. This process ensures that the conversion of warrants into equity shares, each with a face value of ₹2, adheres to established capital disclosure and issuance protocols.
Completion of Warrant Conversion Process
Ramkrishna Forgings Limited has successfully reached a significant milestone in its preferential issue program. An independent audit has verified the financial receipts and procedural compliance associated with the conversion of 640,000 convertible warrants. These warrants were originally issued as part of a preferential allotment approved by shareholders on June 28, 2025.
Financial Breakdown and Verification
The warrant conversion process involved two distinct financial stages. Initially, the company received 25% of the application money, totaling ₹51,18,75,000, which was processed on August 14, 2025. The subsequent balance of 75% of the warrant value, priced at ₹1,575 per warrant, was verified through bank statements covering the period from March 1, 2026, to March 31, 2026.
Assurance and Compliance
The independent auditor’s review confirms that all payments were received directly from the allottee’s bank account, with no evidence of fund circulation or irregular book entries. The audit was conducted in accordance with established ethical standards and provides assurance that the company has maintained all necessary documentation. Each warrant is convertible into one equity share with a face value of ₹2 and a premium of ₹2,098, ensuring full transparency in the capital expansion initiative.
Source: BSE
