Mantra Capital Ltd receives approval to forfeit 45,442 partly paid-up shares

What Mantra Capital announced

Mantra Capital Ltd (BSE: 511577) disclosed that it has received approval from the stock exchange to forfeit 45,442 partly paid‑up equity shares that were issued pursuant to a recent rights issue. The approval was filed with the BSE on 16 June 2026.

Rights issue and partial payment

The company had earlier undertaken a rights issue, offering existing shareholders the right to subscribe to additional equity at a predetermined price. While the shares were allotted to the entitled shareholders, a portion of the subscription amount remained unpaid. Under the Companies Act, 2013 and the company’s articles of association, shares that are not fully paid within the stipulated period are liable to be forfeited.

Approval process

The forfeiture required formal approval from the stock exchange, as mandated for changes to the issued share capital. Mantra Capital filed an intimation titled “Intimation for Receipt of Approval for Forfeiture of 45442 Partly Paid Equity Shares from Stock Exchange” with the BSE, confirming that the exchange had cleared the forfeiture. No further shareholder meeting or special resolution was needed because the forfeiture follows the existing statutory framework.

Key facts at a glance

Why this matters for investors

The forfeiture reduces the total number of issued shares, which can slightly increase the proportionate ownership of remaining shareholders. Any amount already paid by the shareholders whose shares are being forfeited is retained by the company as unpaid capital, but no new cash inflow is generated from the cancellation. Investors should note that the company may later re‑issue the forfeited shares, although the filing does not specify any such plan.

Conclusion

Mantra Capital Ltd has secured regulatory clearance to cancel 45,442 partly paid‑up shares issued under its rights issue, thereby adjusting its share capital. The filing does not disclose the monetary value of the forfeited shares or outline any immediate re‑issuance strategy, leaving those details to be communicated in future disclosures.