Race Eco Chain Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, in accordance with SEBI regulations. The company submitted the mandatory certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 to both BSE and NSE on April 7, 2026.

Regulatory Compliance Certificate Details

The certificate was issued by M/s Skyline Financial Services Private Limited, the company's registered and share transfer agent. The document confirms compliance with quarterly reporting requirements for the period ended March 31, 2026.

Certificate Confirmation

The certificate specifically confirms that no physical share certificates were received for dematerialization of equity shares during the quarter ended March 31, 2026. This confirmation is a standard requirement under SEBI's depositories and participants regulations, ensuring transparency in share transfer and dematerialization processes.

Stock Exchange Communication

Race Eco Chain Limited communicated the compliance certificate to both major stock exchanges where its shares are listed. The company's shares trade on BSE under scrip code 537785 and on NSE under the symbol RACE. Company Secretary and Compliance Officer Shiwati signed the communication digitally, demonstrating the company's commitment to regulatory compliance.

About the Filing

This quarterly compliance certificate represents Race Eco Chain Limited's adherence to SEBI's regulatory framework governing depositories and participants. The filing ensures that all stakeholders, including investors and regulatory authorities, are informed about the company's share transfer and dematerialization activities during the specified quarter.

Race Eco Chain Limited has officially announced the forfeiture of subscription amounts totaling ₹17,20,40,000 from convertible warrants after all 27 warrant holders failed to exercise their conversion option within the regulatory timeframe. The company informed both stock exchanges through an official board meeting outcome dated April 01, 2026, confirming that none of the allottees converted their warrants before the March 31, 2026 deadline.

Warrant Issuance and Forfeiture Details

The convertible warrants were originally allotted on October 01, 2024, at an issue price of ₹352.00 per warrant to 27 allottees on a preferential basis. The pricing structure included a warrant subscription price of ₹88.00 per warrant and a warrant exercise price of ₹264.00 per warrant, with warrant holders paying 25% of the total issue price as initial subscription amount.

Regulatory Framework and Compliance

Under Regulation 169(3) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, warrant holders had 18 months from the date of allotment to exercise their conversion option. The company has fulfilled its compliance obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by informing both the Bombay Stock Exchange and National Stock Exchange about the forfeiture.

Complete Breakdown of Forfeited Holdings

The forfeited warrants span across promoter group and non-promoter categories, with detailed allocation provided in the official annexure. The largest individual forfeitures include Petflakes Poymers India Private Limited with 4,62,500 warrants, Devbhoomi Commercial Private Limited with 4,32,500 warrants, and BGP 11 Analytics Private Limited from the promoter group with 2,20,000 warrants.

Other significant forfeitures include various individual investors and entities such as ASI Trust and SIA Trust (50,000 warrants each), along with multiple smaller holdings ranging from 10,000 to 50,000 warrants distributed among the remaining allottees including members of the Sharma, Pareek, and Gupta families.

Financial Impact and Documentation

The forfeiture represents the automatic enforcement of regulatory provisions designed to ensure timely decision-making by warrant holders regarding equity conversion. The company has made the complete documentation available on its website at www.raceecochain.com , including the detailed annexure listing all 27 warrant holders and their respective forfeited amounts. This development concludes the preferential warrant issuance process that began in October 2024.