Forfeiture of Partly Paid up Shares.
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Sharat Industries' board has approved the forfeiture of 2,41,174 partly paid-up equity shares (face value ₹10, paid-up ₹2.50 per share) on which the first and final call money was not received by shareholders. The board also deferred three capital-raising proposals — a preferential equity issue, convertible warrants, and a share swap with Katyayini Aquatech — saying it needs more time to evaluate funding needs and timing. The authorized share capital was increased from ₹50 crore to ₹60 crore, signalling room for future fundraising. Three directors, including Managing Director Prasad Reddy Sabbella and Whole-Time Director Sharat Reddy Sabbella (his son), have been re-appointed for five-year terms from April 2026. A record date of September 19, 2025 was fixed for the final dividend, and the 35th AGM is scheduled for September 27, 2025 via video conferencing.
The forfeiture is a minor housekeeping exercise that removes delinquent shareholders and may marginally boost EPS. Deferred capital plans suggest the company is being cautious about fundraising, while the higher authorized cap keeps future equity issuance options open. Existing shareholders should note the September 19 record date to be eligible for the final dividend.