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Prime Industries announced that 33 allottees failed to convert 17,25,000 convertible warrants into equity shares within the stipulated timeframe. These warrants were initially issued at Rs. 210 each. As a result, the initial subscription amount of Rs. 9,05,62,500 (approximately Rs. 9.06 Cr), which represented 25% of the issue price, stands forfeited by the company. This action impacts the company's capital structure and cash reserves positively as these funds are now fully available to the company.