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Awaiting price reaction for this filing.
GTT Data Solutions Ltd has forfeited 1,28,955 partly paid-up equity shares (face value ₹10 each) that were issued through a rights issue (Letter of Offer dated January 10, 2025). The forfeiture was approved by the Rights Issue Committee on July 30, 2025 because certain shareholders failed to pay the First and Final Call money by the July 7, 2025 deadline, despite a Call Notice on April 15, 2025 and a Reminder-cum-Forfeiture Notice on June 18, 2025. The forfeited shares, including the amounts already paid on them, now become the property of the company, which can resell or cancel them at its discretion. This impacts a relatively small number of shares out of the total capital base.
This is a routine housekeeping action and is negative only for the specific defaulting shareholders who lose both their shares and any money already paid. For the broader investor base, the impact is minimal as these shares can be reissued, potentially diluting existing holders further if resold.