Update on receipt of amounts towards First call on partly paid-up equity shares of Suraj Industries Ltd. and Final Reminder cum Forfeiture notice.
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Awaiting price reaction for this filing.
Suraj Industries Ltd had issued partly paid-up equity shares on a rights basis (Letter of Offer dated October 9, 2025), and the first call of Rs. 10 per share (Rs. 2.5 face value + Rs. 7.50 share premium) was due between February 2 and February 16, 2026. The company received Rs. 20.91 crore on 2,09,08,655 shares, which is about 70% of the 2,99,25,394 partly paid-up shares outstanding. These shares will be converted to a new ISIN reflecting Rs. 5 paid-up per share. For the remaining 90,16,739 shares (Rs. 9.02 crore unpaid), a Final Reminder cum Forfeiture Notice will be issued with a payment window from February 25 to March 11, 2026. The company has also waived the 12% per annum interest that was applicable for non-payment.
Existing shareholders who have not yet paid the first call money risk forfeiture of their partly paid-up shares if they fail to pay by March 11, 2026. The company has already collected roughly 70% of the call money, which strengthens its equity base, while the remaining ~30% remains uncertain and could lead to share capital reduction through forfeiture.