W.S. Industries (India) Limited announced the allotment of equity shares upon the conversion of convertible warrants and the forfeiture of unexercised warrants. The announcement was made on 4th March 2026, following a meeting of the Allotment Committee of the Board of Directors held on the same day. The company had previously obtained shareholder approval on 2nd May 2024, for the issuance of 27,15,722 convertible warrants at ₹149.50 per warrant, including a premium of ₹139.50. In-principle approvals were received from BSE Limited on 20th August 2024 and the National Stock Exchange of India Limited on 21st August 2024. Subsequently, on 5th September 2024, the company allotted 24,34,786 convertible warrants with 25% of the issue price received upfront. 5,35,120 warrants were converted into equity shares on 17th July 2025. As of the conversion deadline of 4th March 2026, 18,99,666 warrants remained outstanding. The Committee approved the allotment of 33,444 fully paid-up equity shares of ₹10 each at an issue price of ₹149.50 per share, following the receipt of the balance 75% of the issue price (₹112.125 per warrant) from a Promoter Group warrant holder. The remaining 18,66,222 warrants were not exercised within the stipulated period and were forfeited. Consequently, the aggregate forfeiture amount is ₹6,97,50,049. The Allotment Committee Meeting commenced at 6:15 pm and concluded at 6:24 pm.
