Warrant issuance rules require capped tenure, upfront exercise consideration, disclosure of pricing formula, and forfeiture for non-exercise. Regulation 67 requires that warrants issued in a rights issue have a fixed maximum tenure, may be attached one or more to a specified security, and have their exercise price or a formula disclosed in the letter of offer. A portion of consideration tied to the exercise price must be received upfront, with formula-based pricing requiring calculation with reference to the record date. If a warrant holder does not exercise any warrant within a prescribed period after paying consideration, the consideration for those unexercised warrants is forfeited by the issuer.