Receipt of Call Money in respect of First Reminder cum forfeiture notice of the First and Final Call.
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Awaiting price reaction for this filing.
Sharat Industries had a Rights Issue of ₹48.18 crore at ₹31 per share in August 2024, of which it had initially collected 90.94% (₹43.82 crore). After issuing a first reminder and forfeiture notice, it collected an additional ₹3.36 crore, taking total receipts to ₹47.18 crore (97.92% of the issue size). Consequently, 14,46,454 partly paid-up shares (with ₹2.50 paid-up) are being converted into fully paid-up equity shares of face value ₹10 each. Post-conversion, the company's paid-up equity capital stands at ₹39.02 crore, comprising 3,90,24,842 fully paid-up shares and 4,30,783 remaining partly paid-up shares. The company is now working on listing and trading approvals for the converted shares.
This is a routine corporate housekeeping update — it improves the company's paid-up capital base and brings the rights issue closer to full subscription. Remaining 4,30,783 partly paid-up shares may face forfeiture if further calls are not paid, which could modestly affect equity structure. Minimal direct impact on share price expected.