Prabha Energy Limited Issues First Call Notice for Partly Paid-up Equity Shares

Prabha Energy Limited Issues First Call Notice for Partly Paid-up Equity Shares​

Prabha Energy Limited has issued a notice calling for the payment of the First Call money on its partly paid-up equity shares. The payment is due on the shares that were initially allotted on a rights basis pursuant to the Letter of Offer dated March 05, 2026.

The company informed eligible equity shareholders that the First Call notice is being issued for outstanding partly paid-up Equity Shares. The rights issue was structured at an Issue Price of ₹ 144.00 per share, which included a premium of ₹ 143.00 per share. The shares were allotted on a rights basis in the ratio of 5 Partly Paid Rights Equity Shares for every 14 fully paid-up Equity Shares held by eligible equity shareholders.

Financial Obligations and First Call Details​

Initially, the company had received ₹ 48.96 per partly paid-up Equity Share as application money. The remaining balance of ₹ 95.04 per partly paid-up Equity Share was scheduled to be payable in subsequent two calls.

The Rights Issue Committee, at its meeting on May 04, 2026, decided to make the first call amount of ₹ 47.52 per partly paid-up equity share. This First Call is composed of ₹ 0.33 towards paid-up value and ₹ 47.19 towards premium.

The company fixed Friday, May 08, 2026, as the First Call Record Date for determining the eligible shareholders.

Below is a summary of the financial aspects of the issue:

Key Dates and Operational Status​

The payment of the First Call Money must be received by Tuesday, June 09, 2026. Shareholders must pay the call money based on the number of partly paid-up equity shares held as on the First Call Record Date of May 08, 2026.

In connection with this requirement, the trading of the partly paid-up equity shares (ISIN: IN90I0M01014) was suspended by the Stock Exchanges with effect from May 08, 2026.

Consequences of Non-Payment​

The notice highlighted the consequences for failure to remit the First Call Money:

1. Interest: Interest at 10.00 % per annum will be payable for any delay in payment beyond June 09, 2026, until the actual date of payment.
2. Deduction: The company reserves the right to deduct all outstanding sums due on calls and interest from any future dividend payable to the shareholder.
3. Forfeiture: Failure to pay the first call may render the partly paid-up equity shares, including the amount already paid thereon, liable to be forfeited, as per the company's Articles of Association and the Letter of Offer.

PRABHA Stock Price Movement​

Today, Prabha Energy Limited shares rallied, closing at ₹170.62, marking a strong gain of 6.81% on a positive close. The stock saw active trading, with 504,941 shares exchanging hands during the session.