California Software redeems ₹4.18 crore OCRPS, extends call money period
California Software Company Limited's board approved the redemption of ₹4.18 crore worth of OCRPS held by Chemoil Private Limited and extended the call money payment deadline for Rights Issue shares by one month, with forfeiture risks for non-payment.
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California Software Company Limited has approved the redemption of Optionally Convertible Redeemable Preference Shares (OCRPS) aggregating to ₹4.18 crore held by Chemoil Private Limited. The decision was taken during a board meeting held on 28 May 2026. The company also extended the payment period for the First and Final Call Money related to its Rights Issue by one month, warning that non-payment could lead to share forfeiture.
Redemption of OCRPS
The board sanctioned the redemption of 4,18,700 OCRPS, each with a face value of ₹10 and issued at ₹100 per share. The total redemption amount stands at ₹4,18,70,000. Upon payment of this amount and completion of necessary formalities, these shares will be redeemed, cancelled, and extinguished. The move follows a request from Chemoil Private Limited and adheres to the original terms of issue.
Extension of Call Money Payment
Shareholders who have not yet paid the First and Final Call Money for partly paid equity shares issued via the Rights Issue have been granted an additional one month to settle the dues. The board clarified that if shareholders fail to make the payment within this extended timeframe, the allotted shares will be liable to forfeiture. This action will be taken in accordance with the terms of issue, the Letter of Offer, the Articles of Association of the Company, and applicable regulations under the Companies Act, 2013 and SEBI guidelines.
Authorizations
Mr. Vijayakumar, Executive Director, along with other officers of the company, has been authorized to complete all necessary acts, deeds, filings, and other matters required to give effect to these decisions. The meeting commenced at 4.00 PM and concluded at 4.30 PM on the same day.
| Particulars | Details |
|---|---|
| Meeting Date | 28 May 2026 |
| OCRPS Redeemed | 4,18,700 shares |
| Redemption Amount | ₹4,18,70,000 |
| Call Money Extension | 1 month |
Historical Stock Returns for California Software
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.97% | -6.95% | +66.56% | +21.27% | +88.27% | +241.91% |
How will the ₹4.18 crore cash outflow for OCRPS redemption impact California Software's liquidity and capital allocation plans?
What is the expected level of shareholder participation in the extended Rights Issue payment window?
Will the potential forfeiture of shares from non-payment significantly alter the company's shareholder structure?
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