True. From what I read, the promoters have the right to exercise the warrants during a period of 18 months. I may be wrong. I did not come across the info whether they have the right to not exercise warrants. I think that would be very unfair if they had that right- if the stock price is much lower, they wouldn’t exercise and if it’s higher, they would. I think in previous round of warrants, they exercised at a cost of 70 rs over the face value while the stock price was 300 odd.
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