Mercury Ev-Tech Ltd — Important, 08-05-2026: Company Update

MERCURY EV-TECH announced that 4.53 crore fully convertible warrants, previously allotted on a preferential basis, have lapsed. The warrant holders did not convert these warrants into equity shares within the stipulated 18-month period. Consequently, the company has forfeited the upfront subscription amount of ₹84.94 crore, which was 25% of the issue price. This forfeiture brings funds to the company and removes the potential for future share dilution that would have occurred if these warrants were converted, impacting existing shareholders positively.