California Software Company Limited has informed the Exchange regarding Outcome of Committee Meeting held on March 10, 2026.
CALSOFT · price
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California Software Company informed the exchange that its newly constituted Monitoring Committee (which is the Audit Committee) has reviewed the collection of the First and Final Call Money from a Rights Issue originally announced via a Letter of Offer dated January 7, 2025. The rights issue involved partly paid-up equity shares of ₹10 face value, where shareholders initially paid ₹2.50 per share with a balance call of ₹7.50 per share. Out of 4,63,71,318 partly paid-up shares issued, the company has received call money for only 81,55,826 shares (about 17.6%), collecting roughly ₹6.12 crore in total. The remaining 3,82,15,492 partly paid-up shares continue to be in default. The company plans to convert the 81,55,826 fully paid-up shares once approvals from NSE, BSE, NSDL, and CDSL are received, and will keep monitoring the balance call money collection.
The low call money collection (only ~17.6% of shares) is a red flag, indicating weak shareholder participation or confidence in the rights issue. Successful conversion of the paid-up shares will marginally increase the company's paid-up capital, but the large unpaid balance could create uncertainty around future capital availability and signal poor investor appetite.