Outcome of Fund raising committee meeting - Approved conversion of 1,82,575 partly paid shares into fully paid shares upon receipt of payment of first and final call money
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Awaiting price reaction for this filing.
The Fund Raising Committee of Ace Software Exports approved converting 1,82,575 partly paid-up rights equity shares into fully paid-up shares. These shares were originally issued under a rights issue at ₹78 each (face value ₹10 plus ₹68 premium). Shareholders had already paid ₹39 on application and have now paid the remaining ₹39 (including ₹34 premium) on the first and final call. The total partly paid shares outstanding were 2,16,671, which means roughly 34,096 shares were not paid up and likely stand forfeited. The company is now completing corporate actions and seeking listing and trading approvals for the converted shares.
This is a routine capital completion step that increases the company's paid-up equity capital and confirms that most rights issue shareholders honoured their call obligation. The forfeiture of the remaining shares is a small positive for the company, as those shares could potentially be re-issued later at market price, but the overall impact on share price is likely neutral.