Swift Laboratories Forfeits ₹19.66 Crore as 65 Lakh Warrants Lapse

Ind-Swift Laboratories Limited has announced the forfeiture of ₹19,66,25,000/- following the lapse of 65,00,000 fully convertible warrants. The pharmaceutical company informed BSE and NSE on March 1, 2026, that warrant holder Saral Incorporated VCC Sub Fund 1 failed to exercise the conversion option within the prescribed timeframe. Warrant Details and Timeline The warrants were originally allotted on August 30, 2024, through preferential allotment with a conversion period of 18 months. The deadline for exercising the warrants was February 28, 2026, after which the unconverted warrants automatically lapsed. Parameter Details Original Allotment Date August 30, 2024 Conversion Deadline February 28, 2026 Issue Price per Warrant ₹121 Total Warrants Issued 2,60,00,000 Tenure 18 months Warrant Exercise Summary Out of the total 2,60,00,000 warrants issued, the majority were successfully converted while a significant portion held by one investor lapsed. Category Number of Warrants Total Warrants Allotted 2,60,00,000 Warrants Exercised 1,95,00,000 Warrants Lapsed 65,00,000 Forfeited Amount ₹19,66,25,000/- Regulatory Compliance The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per Regulation 169(3) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the upfront subscription amount of 25% of the issue price stands forfeited by the company. Impact on Capital Structure Ind-Swift Laboratories clarified that the lapse of warrants does not result in any change to the company's paid-up equity share capital. The forfeited amount will be retained by the company as per regulatory provisions. The successful exercise of 1,95,00,000 warrants indicates strong investor confidence in the majority of the allotment. Ind-Swift Laboratories Limited has completed a significant preferential allotment of equity shares following the conversion of fully convertible warrants by promoter group entity Essix Biosciences Limited. The transaction has triggered comprehensive regulatory disclosure requirements under SEBI regulations. Warrant Conversion and Allotment Details The Preferential Issue Committee of the Board of Directors approved the allotment during their meeting held on February 24, 2026. The allotment involved the conversion of 51,00,000 fully convertible warrants into equity shares by Essix Biosciences Limited, originally allotted on August 30, 2024. Parameter: Details Number of Shares Allotted: 51,00,000 Face Value per Share: ₹10 Issue Price per Share: ₹121 Total Subscription Amount: ₹61,71,00,000 Allottee: Essix Biosciences Limited Allottee Category: Promoter & Promoter Group Regulatory Compliance and Disclosure Essix Biosciences Limited, represented by Director Himanshu Jain, filed comprehensive disclosures under multiple SEBI regulations on February 26, 2026. The company submitted notifications under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. Shareholding Parameter: Before Acquisition After Acquisition Essix Biosciences Holding: 2,77,82,521 shares (34.04%) 3,28,82,521 shares (37.92%) PACs Holding: 44,51,757 shares (5.45%) 44,51,757 shares (5.13%) Combined Promoter Group: 39.50% 43.06% Impact on Share Capital Structure Following the completion of this preferential allotment, Ind-Swift Laboratories' capital structure has been significantly enhanced. The paid-up equity share capital increased from ₹81,61,15,580 to ₹86,71,15,580, representing an addition of ₹5.10 crores. Capital Structure: Post-Allotment Details Paid-up Share Capital: ₹86,71,15,580 Total Number of Shares: 8,67,11,558 Face Value per Share: ₹10 Total Diluted Capital: ₹93,21,15,580 Promoter Group Structure The disclosure reveals that Essix Biosciences Limited acts in concert with 19 persons acting in concert (PACs), including key individuals such as Nidhi Munjal, Meenakshi Mehta, Ravi Mehta, Neeta Munjal, Himanshu Jain, Sunita Jain, Gopal Munjal, Saurabh Munjal, and others from the promoter families. Ind-Swift Laboratories informed both NSE and BSE about the substantial acquisition through official communications dated February 27, 2026, ensuring full regulatory compliance under applicable takeover and insider trading regulations. The preferential allotment was conducted in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.