Intimation on Notice of Forfeiture sent to partly paid-up equity shareholders
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Awaiting price reaction for this filing.
Tulsyan NEC Ltd has officially issued forfeiture notices to shareholders who failed to pay allotment and call money on their partly paid-up equity shares. The Board approved the forfeiture on March 27, 2025 of a total of 2,05,259 partly paid-up shares (94,815 shares with Rs.6 unpaid and 1,10,444 shares with Rs.3 unpaid), with a face value of Rs.10 and a premium of Rs.39.50 per share. The company had sent a final reminder in February 2023, and shareholders who still did not pay now have their shares cancelled and forfeited. For example, shareholder Manjulben K Patel held 200 shares with Rs.3,900 unpaid, and all 200 shares were forfeited. The forfeited shares have been cancelled and will no longer be tradable.
This is a corporate housekeeping action where the company is cancelling shares from shareholders who defaulted on payment obligations. For existing shareholders, this may marginally increase their percentage ownership since the total share count will reduce by 2,05,259 shares, but the impact on stock price is likely minimal as these were unpaid shares being cleaned up.