MITCON Consultancy & Engineering Services Limited has informed the Exchange about Forfeiture
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MITCON Consultancy & Engineering Services has informed the exchange that it is forfeiting 2,61,404 partly paid-up rights equity shares. These shares are being forfeited because the holders failed to pay the First and Final Call Money by the deadline of July 23, 2025. The forfeiture was approved by the Board of Directors on July 28, 2025. The forfeiture relates to a rights issue carried out in 2024 at ₹76 per share (including ₹66 premium) in the ratio of 6 rights shares for every 19 fully paid shares held, for an aggregate amount of ₹3,223.40 lakhs. Once forfeited, the shares become the property of the company, which may re-sell, re-allot, or cancel them at its discretion. Shareholders have been notified via email and physical mode.
This is an administrative action affecting only the 2,61,404 specific shareholders who did not pay the call money; existing shareholders who paid are not impacted. The forfeited shares could later be reissued or cancelled, which may have a minor effect on share count and earnings per share, but the overall financial impact is limited given the small size relative to the total rights issue of 42,41,321 shares.