Bannari Amman Spinning Mills has notified the stock exchanges of the impending forfeiture of convertible share warrants after three allottees — one promoter entity and two non-promoter individuals — failed to remit the balance subscription amount by the stipulated deadline. The company filed the intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 4, 2026.

Background on the Warrant Issuance

The convertible share warrants in question were originally issued on November 4, 2024, and were convertible into equity shares within 18 months from the date of issue. The last date for making the balance payment was May 3, 2026. The allottees, however, did not make the requisite payment by this deadline, triggering the forfeiture process.

Allottees and Warrants Subject to Forfeiture

The following allottees have been identified as having failed to pay the balance subscription amount:

Regulatory Basis for Forfeiture

The forfeiture will be carried out in accordance with Regulation 169(3) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Additionally, the action is supported by a resolution passed by shareholders through a Postal Ballot on October 4, 2024. The matter is set to be placed before the forthcoming meeting of the Board of Directors, where the necessary resolution will be passed to formally forfeit the warrants.

Next Steps

The company has confirmed that the forfeiture will be formally ratified at the next Board of Directors meeting. The intimation was signed by N. Krishnaraj, Company Secretary, on behalf of Bannari Amman Spinning Mills, and submitted to both the National Stock Exchange of India Limited and BSE Limited.

Bannari Amman Spinning Mills Limited has submitted its quarterly compliance certificate under SEBI regulations, demonstrating adherence to dematerialization processing requirements for the quarter ended March 31, 2026.

Regulatory Compliance Certificate

The company filed its certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, confirming that all security certificates received from depository participants for dematerialization during the quarter were processed within regulatory timelines.

Registrar Confirmation

MUFG Intime India Private Limited, serving as the company's Registrar and Transfer Agent, provided supporting confirmation for the compliance certificate. The registrar verified that all dematerialization processes were completed according to prescribed procedures.

Key confirmations from the registrar included:

• Securities received from depository participants were confirmed or rejected within prescribed timelines
• Physical security certificates were properly mutilated and cancelled after due verification
• Depository names were substituted in the Register of Members as registered owners
• All dematerialized securities remain listed on stock exchanges

Corporate Details

The compliance filing was signed by N Krishnaraj, Company Secretary (A20472), on behalf of Bannari Amman Spinning Mills Limited. The company maintains its registered office at 252, Mettupalayam Road, Coimbatore, Tamil Nadu.

Stock Exchange Information

The certificate was submitted to both major depositories and stock exchanges where the company's securities are listed, ensuring comprehensive regulatory compliance across all trading platforms.

This quarterly filing represents part of the company's ongoing regulatory obligations under SEBI guidelines, ensuring transparency and proper handling of investor securities during the dematerialization process.