Suraj Industries Ltd Approves Share Conversion and Forfeiture of Partly Paid-Up Rights Shares
Suraj Industries Ltd has approved the conversion of partly paid-up rights equity shares and the forfeiture of a significant number of shares following the receipt of first call money. The decision was made by the Rights Issue Committee of the Board of Directors during a meeting held on April 13, 2026.The Board’s action followed the issuance of a Second Final Reminder-cum-Forfeiture Notice concerning 1,68,629 partly paid-up Rights Equity Shares, where the First Call Money remained unpaid. The payment window for these shares was noted as having commenced on March 20, 2026, and concluded on April 03, 2026.
During the specified period, the Company received an aggregate amount of Rs. 3,06,570/- towards the First Call Money, corresponding to 30,657 Equity Shares.
The Rights Issue Committee approved two primary business actions:
First, the conversion of the 30,657 partly paid-up equity shares into a different class of partly paid-up equity shares. These shares held a face value of Rs. 10/- each, with Rs. 2.5/- paid up, bearing ISIN: IN9170U01027, and were converted into partly paid-up equity shares with a face value of Rs. 10/- each, with Rs. 5/- paid up, bearing ISIN: IN9170U01035.
Second, regarding the remaining shares, the Committee approved the forfeiture of 1,37,972 partly paid-up Rights Equity Shares. For this segment, the First Call Money aggregating to Rs. 13,79,720/- remains unpaid. Consequently, the committee approved issuing a forfeiture notice to the concerned shareholders for the non-payment of the First Call Money on these shares.
The Company confirmed that it is currently in the process of completing the necessary formalities required for corporate actions and obtaining listing and trading approvals for the converted Rights Equity Shares.
The committee meeting commenced at 05:00 P.M. and concluded at 05:30 P.M. on April 13, 2026.
Stock Price Movement
At the close of trade today, Suraj Industries Ltd settled at ₹46.90, declining 1.14% for the day. During trading hours, the shares moved through a range defined by a low of ₹45.20 and a high of ₹46.95.Source:
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