Shigan Quantum Technologies Limited — QIP/Rights/Pref., 22-03-2025: Conversion

Shigan Quantum Technologies Limited has announced a board meeting to approve the conversion of 1,264,500 convertible warrants into equity shares. This conversion follows an earlier preferential allotment of 3,190,500 warrants, each priced at ₹81.22, which resulted in total proceeds of ₹77,027,018. Notably, 78,000 of the warrants have lapsed without exercise, leading to a forfeiture of ₹1,583,790.

The conversion enhances equity and may improve liquidity, presenting a positive outlook for investors as the company increases its share capital and reduces outstanding warrants. Overall, this move could strengthen shareholder confidence while expanding the investor base.