🚨 #INDSWFTLAB Update: 65 lakh fully convertible warrants, originally allotted to Saral Incorporated VCC Sub Fund 1, have lapsed.

These warrants were not exercised by the February 28, 2026 deadline. **The Issue:** A non-promoter warrant holder failed to convert their warrants into equity shares within the 18-month period. **Impact:** INDSWFTLAB has forfeited the upfront subscription amount of ₹19.66 Cr (which was 25% of the issue price). This is a direct financial gain for the company.

Crucially, as these warrants were not converted, there is no change or dilution to the company's paid-up equity share capital from this specific portion. **Company's Response:** The company is simply enforcing the terms of the original preferential allotment from August 2024, where 260 lakh warrants were issued at ₹121 each.

The lapse and forfeiture are a standard outcome when warrants are not exercised.