Ramkrishna Forgings Limited has received 75% of the warrant value for its convertible warrants issued on 14 August 2025. The company confirmed this in a certificate issued by its joint statutory auditors, S.K. Naredi & Co. LLP and S.R Batliboi Co. LLP, in compliance with Regulation 169(5) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The auditors' certificate confirms the receipt of the amount payable on conversion for preferential convertible warrants. As per the scheme, 25% of the warrant value was payable on or before 14 August 2025, with the remaining 75% due upon exercising the right attached to the warrants by the allottee.
The warrants, each convertible into one equity share with a face value of ₹2, carry a premium of ₹2,098 each. The company issued a total of 975,000 convertible warrants at an issue price of ₹2,100 each, authorised by a special resolution passed by the company's members on 28 June 2025.
The auditors verified the receipt of the 25% application money amounting to ₹51.18 crore by checking the company's bank statement for August 2025. They also confirmed the receipt of the balance 75% money at ₹1,575 per warrant for 640,000 warrants exercised by the promoter, tracing the transactions in the company's bank statement from 1 March 2026 to 31 March 2026.
The management of Ramkrishna Forgings is responsible for maintaining necessary accounting records and ensuring compliance with the terms and conditions of the ICDR Regulations. The auditors' scope did not include verifying compliance with other regulatory requirements or performing audit tests on the company's financial information.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).