Newspaper Advertisement for First Reminder-Cum-Forfeiture Notice.
SHINDL · price
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Awaiting price reaction for this filing.
Sharat Industries Ltd has published a First Reminder-cum-Forfeiture Notice in three newspapers (Financial Express – English, Jansatta – Hindi, and Andhra Patrika – Telugu) addressed to holders of partly paid-up equity shares from its Rights Issue whose First and Final Call money remains unpaid. The total call amount due is ₹23.25 per share (₹7.50 face value + ₹15.75 premium), with the record date being 7 February 2025. Shareholders must pay via demand draft payable at Chennai to the Registrar (Cameo Corporate Services Limited) between 30 April and 9 May 2025. The Rights Issue Committee approved sending these reminders on 15 April 2025, and notices were dispatched from 16 April 2025. If shareholders fail to pay within the window, their partly paid-up shares—including the amount already paid—will be forfeited as per the Companies Act, 2013 and the Letter of Offer.
Shareholders who did not pay the First and Final Call money now have a final window (30 April – 9 May 2025) to remit ₹23.25 per share, failing which their shares will be forfeited and any future dividends can be adjusted against outstanding dues. For the broader market, this is a routine compliance disclosure and is unlikely to have a direct material impact on the stock price, though it signals ongoing completion of the company's Rights Issue process.