Motisons Jewellers Limited has announced another revision to its board meeting schedule, now setting April 16, 2026, as the new date to address pending agenda items under Regulation 29 of SEBI Listing Regulations. This marks the latest adjustment following previous cancellations due to quorum issues.

Meeting Schedule Revisions

The jewellery retailer has experienced multiple scheduling changes for its board meeting. The company had originally planned a meeting on April 02, 2026, which was subsequently adjourned. A rescheduled meeting for April 09, 2026, was cancelled due to insufficient quorum, leading to another rescheduling for April 15, 2026. The latest communication now sets April 16, 2026, as the confirmed date.

Preference Share Redemption Agenda

The board meeting will focus on the redemption of preference shares, which has been the consistent agenda throughout these scheduling changes. The specific items for consideration include:

• Redemption of 50,00,000 2.5% Non-Convertible Redeemable Preference Shares (unlisted)
• Related procedural approvals for the redemption process
• Other considerations as may be applicable

Regulatory Compliance and Communication

The company has maintained proper communication with stock exchanges throughout these scheduling changes. The latest notification, dated April 10, 2026, was sent to both BSE (Scrip Code: 544053) and NSE (Symbol: MOTISONS). The communication was signed by Bhavesh Surolia, Company Secretary & Compliance Officer (Membership No.: A64329), ensuring adherence to SEBI Listing Regulations.

The multiple rescheduling instances highlight the importance of maintaining adequate board participation for significant corporate decisions while ensuring compliance with regulatory requirements.

Motisons Jewellers Limited has reported the lapse of 82.70 lakh warrants after warrant holders failed to exercise their conversion rights within the mandatory 18-month period. The announcement, made on April 05, 2026, marks the conclusion of the warrant conversion window that began with the original allotment on October 05, 2024.

Warrant Allotment and Conversion Details

The warrants were initially allotted at an issue price of ₹170 per warrant, comprising a warrant subscription price of ₹42.50 and a warrant exercise price of ₹127.50. Each warrant was convertible into one equity share with a face value of ₹10. The total allotment covered 1.00 crore warrants to three non-promoter entities on a preferential basis.

Warrant Holder Performance

The lapse affected three major institutional investors with varying conversion rates. North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund failed to convert any of its 35.00 lakh warrants, resulting in complete forfeiture. Eminence Global Fund PCC-Eubilia Capital Partners Fund I converted 7.90 lakh warrants but allowed 27.10 lakh warrants to lapse. Nexpact Limited showed the highest conversion rate, converting 9.40 lakh warrants while letting 20.60 lakh warrants expire.

Impact of Stock Split

A significant development occurred during the warrant period when the company implemented a stock split effective November 08, 2024. The face value of equity shares was reduced from ₹10 to ₹1, resulting in a 1:10 split ratio. This change modified the conversion terms, allowing each warrant to be converted into 10 equity shares of ₹1 face value instead of one share of ₹10 face value.

Regulatory Compliance and Financial Impact

The warrant lapse follows Regulation 169(3) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, which mandates the 18-month conversion period. The company will forfeit the amounts received against the lapsed warrants, representing a significant financial benefit. The forfeited amount from the 82.70 lakh lapsed warrants, calculated at the subscription price of ₹42.50 per warrant, totals approximately ₹35.15 crore.