Rights issue committee to meet on 8 October to consider forfeiture of partly paid shares

A meeting of the Rights Issue Committee of the Board is scheduled for Thursday, 8 October 2026.

Thu 1 Oct 2026

Committee Meeting Date

Thursday, 8 October 2026

Unpaid Call Money

₹41.25 per Rights Equity Share

Rights Issue Size

up to 1,20,91,760 partly paid-up equity shares

Face Value per Share

₹10 each

Prior Notices

call money notice dated June 5, 2026, first reminder notice dated July 15, 2026, second reminder-cum-forfeiture notice dated August 18, 2026

What the company has informed the exchanges

TIL Limited has told the stock exchanges that a meeting of the Rights Issue Committee of its Board of Directors is scheduled to be held on Thursday, 8 October 2026. The committee is to consider and approve the forfeiture of such partly paid-up equity shares on which the first and final call money of ₹41.25 per Rights Equity Share remains unpaid.

The company states this would be done in accordance with the Companies Act, 2013, its Articles of Association and the Letter of Offer.

The rights issue in numbers

• Rights issue size: up to 1,20,91,760 partly paid-up equity shares
• Face value of each share: ₹10
• First and final call money per Rights Equity Share: ₹41.25

What has happened so far

• Letter of Offer dated March 20, 2026
• First and final call money notice dated June 5, 2026
• First reminder notice dated July 15, 2026
• Second reminder-cum-forfeiture notice dated August 18, 2026
• Rights Issue Committee meeting scheduled for October 8, 2026

What partly paid-up shares are

• In a rights issue, a company can structure the issue so that shareholders pay the issue price in stages instead of all at once.
• Shares on which only part of the amount has been paid are called partly paid-up equity shares.
• The amount the company later asks shareholders to pay is called a call. Here, the amount due is the first and final call money of ₹41.25 per Rights Equity Share.

What forfeiture means

• If the call money is not paid despite the notices, the company can take back, or forfeit, those partly paid-up equity shares.
• A shareholder whose shares are forfeited ceases to hold those shares.

What this announcement is

• It is an intimation of a scheduled committee meeting of the Board. The forfeiture is to be considered and approved at that meeting on 8 October 2026.
• It concerns only those partly paid-up equity shares on which the first and final call money remains unpaid.
• Those shares were issued as part of the rights issue of up to 1,20,91,760 partly paid-up equity shares of face value ₹10 each.
• The committee meeting is the next step in the sequence that began with the call money notice and continued through two reminder notices.

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