Reliance Power Limited has announced the lapse of 21.82 crore outstanding warrants. These warrants, which were subject to an 18-month conversion window, have expired without being exercised. As a result of this non-conversion, the funds previously paid against these warrants stand forfeited by the company. This update follows a previous communication from the management issued in October 2024 regarding the status of these securities.
Details of Lapsed Securities
Reliance Power Limited has officially confirmed that 21.82 crore warrants have lapsed. These financial instruments were originally issued with a specific 18-month tenure for conversion into equity shares. Following the conclusion of this designated period, the warrants have now ceased to exist as convertible instruments.
Financial Implications
Under the terms of the issuance, the amounts already paid by the warrant holders have been retained by the company. The lapse signifies the end of the conversion rights associated with these specific warrants, a development that follows the company’s internal review and previous updates provided to stakeholders in October 2024.
Source: BSE
