Update on Rights Issue - Receipt of Final Demand cum Forfeiture Notice on the partly paid-up equity shares of the Company
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.7 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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JMJ Fintech Ltd has issued a final demand and forfeiture notice to shareholders who failed to pay the remaining call money on partly paid-up equity shares allotted under a previous rights issue. Shareholders who do not pay the outstanding amount by the deadline will have their partly paid shares forfeited by the company. This indicates weak shareholder participation or reluctance to pay the balance amount on the rights entitlement. The original filing details (such as issue size, call money due, and deadline) are not available as the BSE page linked in the source could not be accessed.
This is a negative signal for affected shareholders who risk losing their shares entirely. For the broader stock, it points to poor response to the company's rights issue, which may weaken investor confidence and dilute promoter holding if significant shares are forfeited and reissued.