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Suraj Estate Developers Limited ( (IN:SURAJEST) ) has provided an announcement.
Suraj Estate Developers Limited has announced that a warrant holder has not exercised the option to convert 1,330,000 convertible warrants, which were allotted on a preferential basis at an issue price of Rs 750 per warrant in October 2024. As a result, the initial subscription amount of Rs 49.88 crore, representing 50% of the issue price already paid, has been forfeited in accordance with SEBI regulations.
The forfeiture means the company will retain the funds without issuing the corresponding equity, slightly strengthening its capital position without dilution of existing shareholders. The disclosure has been made under Regulation 30 of SEBI’s listing obligations framework and will also be available on the company’s website, underscoring compliance and transparency for investors and other stakeholders.
More about Suraj Estate Developers Limited
Suraj Estate Developers Limited is a Mumbai-based real estate developer focused on residential and other property projects in the city. The company operates in the Indian real estate industry and is listed on both the National Stock Exchange of India and BSE under the symbols SURAJEST and 544054, respectively.
Average Trading Volume: 8,679
Technical Sentiment Signal: Sell
Current Market Cap: 9.98B INR
See more data about SURAJEST stock on TipRanks’ Stock Analysis page.