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Ampvolts Ltd has issued forfeiture notices to shareholders who failed to pay call money on partly paid-up equity shares from a 2024 Rights Issue. The Board approved forfeiture of 2,89,087 partly paid-up shares (face value ₹10 each) on November 14, 2025. The shares were issued at ₹30 each (including a ₹20 premium) in an 8:5 ratio on a record date of January 8, 2024, targeting a total issue of up to ₹48 crores. Despite multiple notices — First Call (July 2024), Second & Final Call (October 2024), and a Reminder-cum-Forfeiture Notice (January 2025) — these shareholders did not pay by the final deadline of February 13, 2025. Affected shareholders lose all interest in the shares, including amounts already paid, and the shares revert to the company.
This is a routine enforcement action with a very small impact on the overall share base. The forfeited shares now become the company's property, which it may resell or cancel, providing minor future flexibility in capital structure. For the affected shareholders, this is a total loss of their investment in these partly paid-up shares.