Banaras Beads Limited has informed the Exchange about Forfeiture of Partly paid-up 38700 Equity Shares.
BANARBEADS · price
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Banaras Beads Limited has informed the exchange about the forfeiture of 38,700 partly paid-up equity shares. Forfeiture occurs when shareholders fail to pay the remaining amount due on partly paid shares. The company had previously issued these shares on a partly paid basis, and the allottees did not make the pending payments. This is a routine corporate housekeeping action to clean up the share capital.
This move reduces the company's partly paid-up share count and is unlikely to materially affect the stock price. It may marginally increase earnings per share if these shares are later re-issued.