Share warrants |
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Disclosure of Share warrants [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share warrants | 40. Share warrants 'RMG Acquisition Corp II (RMG II) had issued warrants having rights to purchase its Class A equity shares. Pursuant to the listing transaction, the Company issued warrants to these warrants’ holders (refer below for terms of these warrants), which will entitle these warrants holders to purchase Company’s Class A equity shares. These warrants are classified to be derivative instruments and as such, are recorded at fair value through profit or loss account. The Company will continue to adjust the fair value of the warrant liability at the end of each reporting period for changes in fair value from the prior period until the earlier of the exercise or expiration of the applicable warrants or until such time that the warrants are no longer determined to be derivative instruments. The details of warrants issued are as follows: Public warrants: The Company has 15,249,960 outstanding public warrants as at March 31, 2025 (March 31, 2024: 13,399,960; March 31, 2023: 12,955,333 public warrants), having an exercise price of USD 11.50 per share, subject to adjustments, and are exercisable during the period beginning December 14, 2021 and ending on August 23, 2026 or earlier upon redemption or liquidation. The Company may redeem the outstanding public warrants after they become exercisable per the terms of the warrants agreement. The fair value of the public warrants was determined using the market trading price as at March 31, 2025 as USD 0.12 (March 31, 2024: USD 0.50; March 31, 2023: USD 0.86). Private warrants: The Company has 3,276,793 outstanding private warrants as at March 31, 2025 (March 31, 2024: 5,126,793; March 31, 2023: 5,571,420), having an exercise price of USD 11.50 per share, subject to adjustments, and are exercisable during the period beginning December 14, 2021 and ending on August 23, 2026 or earlier upon redemption or liquidation. The Company may redeem the outstanding public warrants after they become exercisable per the terms of the warrants agreement. The Company has determined fair value of private warrants as at March 31, 2025 as USD 0.12 (March 31, 2024: USD 0.50; March 31, 2023: USD 0.86).
The Group has recognised the following warrant obligations (refer Note 20):
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