Notice of Forfeiture of Partly Paid up Equity Shares ( ISIN: INE088D01011) pursuant to Initial Public Offer (IPO)
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Trescon Limited is forfeiting 13,86,600 partly paid-up equity shares that were issued during its IPO, because the allottees failed to pay the first and final call money by the November 21, 2024 deadline. Of these, 100 shares had ₹5 per share unpaid (face value ₹10), while 13,86,500 shares had ₹7.5 per share unpaid (face value ₹10). The Board had approved this forfeiture on May 20, 2025, and the company is now dispatching individual forfeiture notices to the concerned shareholders. As per the notice, all rights and claims of those shareholders on those shares stand extinguished, and the forfeited shares become the company's property, which it may later sell, re-issue, allot, or cancel at its discretion.
This is a routine administrative action against shareholders who did not pay their IPO call money, and the number of shares being forfeited is relatively small. It should not materially affect existing shareholders, though the company may eventually re-issue or sell these forfeited shares, which could have a minor dilutive effect depending on how they are disposed of.