Garnet International Ltd — Important, 11-08-2026: Company Update

The company announced that 27,00,000 convertible warrants, issued at ₹131 each with an expected total capital raise of 35.37 Cr, have lapsed. Subscribers failed to pay the remaining 75% after the 18-month conversion period expired. As a result, the warrants are unexercised, and there is no change to the paid-up share capital, preventing dilution. The upfront payment of ₹8,84,25,000 (8.84 Cr) will be forfeited and transferred to the Capital Reserve Account, pending Board approval on August 14, 2026. Defaulting allottees are ineligible for future preferential issues for one year.