Prabha Energy issued a reminder cum forfeiture notice on September 18, 2026, targeting holders of partly paid-up equity shares who have not settled outstanding call money from its ongoing rights issue.

The Rights Issue Committee of the Board approved the notice during a meeting held that day. It serves as a final warning before potential forfeiture of shares for non-payment of the First Call and/or Second and Final Call amounts.

Payment Deadline and Terms

Shareholders must pay the outstanding amount by Thursday, October 08, 2026. The payment window opens on September 24, 2026, and runs for 15 days. Payments must be made via cheque or demand draft deposited at designated ICICI Bank branches or sent to the Registrar and Transfer Agent, MUFG Intime India Private Limited.

The total issue price per rights equity share stands at ₹144.00. Each call represents 33% of this total price. Cash payments are not accepted, and partial payments will be treated as non-payment, rendering the shares liable for forfeiture.

Consequences of Non-Payment

Failure to settle the dues by the deadline carries significant consequences under the Companies Act, 2013, and the company’s Articles of Association:

• The company may deduct outstanding sums and interest from future dividends payable to the shareholder.
• The partly paid-up equity shares, including any amount already paid, may be forfeited.

Upon successful payment, the rights equity shares will be credited under ISIN INE0I0M01023. Trading is expected to resume within three weeks of the payment deadline.

What the Numbers Show

The structure of the call money reveals a heavy reliance on premiums rather than face value. Of the ₹47.52 due per call, ₹47.19 (99.3%) constitutes a premium, while only ₹0.33 covers the paid-up value. This indicates the rights issue is priced significantly above the ₹1 face value of the equity shares, reflecting the market valuation embedded in the ₹144.00 issue price.

Prabha Energy Limited shareholders approved a qualified institutions placement (QIP) of up to ₹150 crore and the reappointment of key directors at its 17th annual general meeting held on September 8, 2026.

The meeting, conducted via video conferencing, saw high participation from the promoter group, which held 109,837,209 shares as on the record date of September 1, 2026. All six resolutions placed before the shareholders were passed unanimously or near-unanimously.

Key Resolutions Passed

The most significant corporate action was the approval to raise funds through a QIP. This special resolution received overwhelming support from both promoter and public shareholders.

Voting Dynamics

The promoter group demonstrated strong alignment with management, voting 100% in favour of all resolutions where they participated. The group cast 107,958,097 votes in favour of the financial statements and director appointments, representing 98.29% of their total holding.

Public institutional investors also showed full support, with 100% of polled votes (2,186,680) cast in favour across all resolutions. Non-institutional public shareholders voted 99.99% in favour of the financial statements, with only 178 votes cast against.

Related Party Transactions

For the resolution approving material related party transactions, the promoter group abstained from voting as per regulatory requirements due to conflict of interest. The resolution was passed based on votes from public shareholders, who cast 17,582,173 votes in favour against just 180 votes against.

What the Numbers Show

The voting data reveals a highly concentrated ownership structure with decisive control by the promoter group. With promoters holding approximately 75% of the total equity (109.8 million shares out of 146.4 million total shares), their participation rate of 98.29% effectively determined the outcome of all non-conflicted resolutions. The minimal dissent from public shareholders (less than 0.01%) indicates broad shareholder consensus on the company's strategic direction, including the proposed capital raise.