Garment Mantra Lifestyle Forfeits Unpaid Rights Shares Following Issue Deadline

Garment Mantra Lifestyle Forfeits Unpaid Rights Shares Following Issue Deadline​

Garment Mantra Lifestyle Ltd. has decided to forfeit 1,40,55,863 partly paid-up Rights Equity Shares following the failure of shareholders to pay the balance call money related to a rights issue conducted in 2025. The decision was finalized by the company's Rights Issue Committee at a meeting held on June 17, 2026.

The forfeiture pertains to those shares for which the necessary payment calls remained outstanding despite multiple reminders and notices issued to shareholders.

According to company reports, out of the total number of partly paid up shares, the First, Second, and Final Call Money was received successfully for a significant portion of the allotted stock. The successful receipt covered 37,74,41,932 equity shares, which were converted into fully paid up Equity Shares of the Company.

However, the company reported that on a total of 1,40,55,863 partly paid-up shares, it failed to receive the outstanding call money from certain shareholders.

The Rights Issue Committee determined that the forfeiture action was necessary as holders of 1,40,55,863 Partly Paid-up Rights Equity Shares had not completed the payment of balance call money. Consequently, the company decided to forfeit these shares along with the amount already paid on those partly paid up Rights Equity Shares.

Stock Price Movement​

Garment Mantra Lifestyle Ltd settled at ₹1.16 in trade today, with the shares showing no movement against the previous close. The equity navigated a tight intraday range, moving between a low of ₹1.12 and a high of ₹1.17.