California Software Company Limited has extended the last date for payment of the First and Final Call on its partly paid-up equity shares to October 9, 2026. The Board approved this extension to accommodate shareholder requests and ensure equitable opportunity amidst prevailing market conditions.

The call amount payable is ₹7.50 per share. This amount represents the balance due on the rights issue launched in January 2025, where shareholders paid ₹2.50 upfront. The original deadline for this call was March 2, 2026, which had already been extended once to May 30, 2026.

Call details and payment instructions

The Rights Issue Committee initially approved the First and Final Call on January 31, 2026. Following the extension, the specific terms for the second extended period are as follows:

Payments must be made exclusively via cheque or demand draft drawn in favour of "California Software Company Limited - Rights Issue Allotment Account". Cash payments and third-party bank account transfers are strictly prohibited. Shareholders must submit the completed payment slip along with the instrument to the company's registered office in Chennai by the deadline.

Consequences of non-payment

Failure to pay the call money by October 9, 2026, will result in the forfeiture of the partly paid-up equity shares. This forfeiture includes the application money already paid (₹2.50 per share). The company will proceed with forfeiture in accordance with the Companies Act, 2013, SEBI (ICDR) Regulations, 2018, and the Articles of Association.

Trading in these partly paid-up shares remains suspended on stock exchanges until the call process is complete. Shareholders are advised to verify their demat account details to ensure successful conversion to fully paid-up status upon payment.

California Software Company Limited promoter Dr. Mahalingam Vasudevan has pledged 75,00,000 equity shares, representing 12.48% of the company's total share capital. The transaction was executed via off-market pledge creation on September 18, 2026.

The disclosure was filed under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Vasudevan serves as the Managing Director and CEO of the company. The pledge involves shares carrying voting rights, with no change in the total number of outstanding equity shares.

Impact on Promoter Holding

Prior to this transaction, Vasudevan held 3,84,96,620 shares, constituting 62.26% of the total voting capital. Following the pledge, his holding of unencumbered shares carrying voting rights stands at 3,09,96,620 shares, or 49.79%.

The total holding, including encumbered shares, remains unchanged at 3,84,96,620 shares (62.26%). The pledge does not result in a sale or transfer of ownership but creates an encumbrance on the specified number of shares.

Share Capital Structure

The company’s equity share capital remains stable at ₹33,58,55,200/-, comprising 6,22,47,124 equity shares of ₹10 each. The diluted share capital is identical to the voting capital, indicating no outstanding convertible securities or warrants that would alter the denominator for percentage calculations.

What the Numbers Show

The pledge reduces the promoter's free float from 62.26% to 49.79%, a decline of 12.47 percentage points. While the total economic interest remains intact, the reduction in unencumbered voting rights below the 50% threshold may have implications for immediate control dynamics, although the total holding remains comfortably above majority levels.