News Corporate Actions Suraj Industries dispatches final forfeiture notice for unpaid call moneySuraj Industries dispatches final forfeiture notice for unpaid call money
Suraj Industries Limited successfully collected Rs 20,90,86,550 from shareholders for first call on 2,09,08,655 partly paid-up equity shares out of total 2,99,25,394 outstanding shares. The company dispatched final reminder-cum-forfeiture notices on February 23, 2026, to shareholders with unpaid call money of Rs 9,01,67,390 on 90,16,739 shares, with payment window from February 25 to March 11, 2026.
*this image is generated using AI for illustrative purposes only.
Suraj Industries Limited has successfully collected Rs 20,90,86,550 from shareholders towards the first call on partly paid-up equity shares issued through its rights offering. Following this collection, the company has now dispatched final reminder-cum-forfeiture notices to shareholders with unpaid call money.
First Call Collection Results
The company received payment for the first call on 2,09,08,655 equity shares out of the total 2,99,25,394 outstanding partly paid-up equity shares. The Rights Issue Committee approved the conversion of these paid shares from partly paid-up equity shares with face value Rs 10.00 each (Rs 2.50 paid-up) bearing ISIN: IN9170U01027 to partly paid-up equity shares with face value Rs 10.00 each (Rs 5.00 paid-up) bearing ISIN: IN9170U01035.
| Parameter: | Details |
|---|---|
| Total Outstanding Shares: | 2,99,25,394 |
| Shares with Payment Received: | 2,09,08,655 |
| Amount Collected: | Rs 20,90,86,550 |
| First Call Amount per Share: | Rs 10.00 |
| Face Value Component: | Rs 2.50 |
| Share Premium Component: | Rs 7.50 |
Final Forfeiture Notice Dispatch
On February 23, 2026, Suraj Industries dispatched final reminder-cum-forfeiture notices through electronic mode and speed post to all shareholders whose first call money remains unpaid. The notice was sent to holders of the balance 90,16,739 partly paid-up rights equity shares, with call money aggregating to Rs 9,01,67,390 remaining unpaid.
| Outstanding Payment Details: | Amount |
|---|---|
| Unpaid Shares: | 90,16,739 |
| Total Unpaid Amount: | Rs 9,01,67,390 |
| Payment Window Start: | February 25, 2026 |
| Payment Window End: | March 11, 2026 |
| Payment Duration: | 15 Days (both days inclusive) |
Payment Instructions and Terms
The final reminder-cum-forfeiture notice payment period will open on Wednesday, February 25, 2026, and close on Wednesday, March 11, 2026. Shareholders must pay Rs 10.00 per share, comprising Rs 2.50 towards face value and Rs 7.50 towards share premium. Payment modes include cheque or demand draft payable at Delhi, with different account names for resident and non-resident shareholders.
| Payment Account Names: | Category |
|---|---|
| SURAJ INDUSTRIES LTD CALL MONEY RESIDENT ACCOUNT: | Resident Shareholders |
| SURAJ INDUSTRIES LTD CALL MONEY NONRESIDENT ACCOUNT: | Non-Resident Shareholders |
Failure to pay the first call money will render the partly paid-up equity shares, including amounts already paid, liable to be forfeited in accordance with the company's Articles of Association and the Letter of Offer. The company has waived the 12% annual interest mentioned in the original first call money notice, providing relief to shareholders.
Rights Issue Background
The partly paid-up equity shares were originally issued on a rights basis pursuant to the Letter of Offer dated October 09, 2025. The first call of Rs 10.00 per share was approved by the Rights Issue Committee on January 20, 2026, with January 27, 2026, fixed as the record date. Trading of Rs 2.50 partly paid-up equity shares (ISIN: IN9170U01027) has been suspended on the stock exchange since January 27, 2026.
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