This is to inform in terms of Regulation 30 of Listing Regulation the Board of Directors in its meeting held on today, 30.05.2025 approved the Forfeiture of 95,32,775 partly paid up shares ....
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The Board of Directors of Sparc Electrex Ltd, at its meeting held on 30 May 2025, approved the forfeiture of 95,32,775 (around 95.33 lakh) partly paid-up equity shares. These shares carry a face value of Rs.10 each, but only Rs.2.50 per share was paid up, with the remaining Rs.7.50 unpaid. The shares were originally allotted in 2023, and the forfeiture follows shareholders' failure to pay the remaining call money that was due during 2023-2024. Once forfeited, these shares revert to the company's treasury, reducing the outstanding partly paid-up share count. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR), 2015. Signed by Managing Director Shobith Ganesh Hegde.
Share forfeiture is largely a corporate housekeeping action — it cancels unpaid call money and tidies up the balance sheet, but is not a dividend, buyback, or capital raise. Existing shareholders see no direct cash benefit or loss, though the company's paid-up capital will technically reduce. The event is unlikely to move the stock price materially.