First Reminder -Cum-Forfeiture Notice in respect of first and final call.
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Sharat Industries is sending a first reminder cum forfeiture notice to holders of 18,77,237 partly paid-up rights equity shares from whom the first and final call money of ₹23.25 per share (₹7.50 face value + ₹15.75 premium) remains unpaid as of the record date of February 7, 2025. These shares were originally allotted on August 12, 2024 under a rights issue based on the Letter of Offer dated July 4, 2024. The payment window is open from April 30, 2025 to May 9, 2025 (10 days), with payment to be made via demand draft to the Registrar. Trading in the partly paid-up ISIN (IN9220Z01011) has already been suspended by the stock exchange from February 7, 2025. If shareholders fail to pay, their partly paid-up shares, including the amount already paid, will be forfeited, and the company may deduct outstanding amounts from any future dividends.
This is a routine call money recovery notice, but for defaulting shareholders it means their shares will be forfeited if they don't pay by May 9, 2025. For the broader market, it is a minor administrative action and unlikely to materially affect the stock price, though successful forfeiture could marginally improve the company's capital structure clarity.