JHS Svendgaard Retail Ventures Limited has announced the lapse of 60,71,357 Fully Convertible Warrants. These warrants were initially allotted on December 3, 2024, at an issue price of ₹50 per warrant on a preferential basis. The warrant holders were required to exercise their option to convert these warrants into equity shares by paying the remaining 75% of the issue price within 18 months from the allotment date. As the balance consideration was not received within the stipulated period, the warrants have lapsed and stand cancelled as of June 2, 2026. In accordance with the terms of issue and SEBI ICDR Regulations, the upfront subscription amount paid at the time of subscription, equivalent to 25% of the warrant issue price, has been forfeited by the company. The aggregate forfeited amount is ₹7,58,91,962.50. Consequently, the warrant holders will cease to have any rights or entitlement related to these warrants, and the warrants are now cancelled and extinguished. There will be no further obligation on the company to allot equity shares against these lapsed warrants. The forfeited amount will be accounted for as per applicable accounting standards and regulatory requirements.
