JMJ JMJ Fintech Limited

Key Quantitative Figures

  • Total shares forfeited and cancelled: 7,54,452 partly paid-up equity shares
  • Original Rights Issue size: 2,56,00,000 partly paid-up equity shares
  • Issue price: ₹10.50 per share (including premium of ₹0.50)
  • Application money paid: ₹3.15 per share (including premium of ₹0.15)
  • Final call amount demanded: ₹7.35 per share (₹7.00 face value + ₹0.35 premium)
  • Initial defaulting shareholders: 590 shareholders holding 16,15,589 shares
  • Final defaulting shareholders: 488 shareholders holding 7,54,452 shares

Dates and Timeline

  • Board meeting date: May 13, 2026 (approved forfeiture and cancellation)
  • Application filed with BSE: May 19, 2026
  • BSE approval date: July 7, 2026
  • Final Demand cum Forfeiture Notice date: March 10, 2026
  • Payment window: March 11, 2026 to March 25, 2026
  • Disclosure date: July 9, 2026

Parties Involved

  • JMJ JMJ Fintech Limited (issuing company)
  • BSE Limited (approving exchange)
  • 488 defaulting shareholders

Rationale and Process

The forfeiture action was taken in compliance with the Companies Act, 2013, the company's Articles of Association, and the Letter of Offer dated July 12, 2025. The company provided a final opportunity to defaulting shareholders through a Final Demand cum Forfeiture Notice before proceeding with the forfeiture. The shares were forfeited along with the application money already paid thereon.

Financial Impact

The forfeiture results in the cancellation of 7,54,452 equity shares and the loss of application money totaling approximately ₹23.77 lakh (7,54,452 shares × ₹3.15 per share) previously paid by the defaulting shareholders. The overall reduction in share capital impact is not quantified in the disclosure.

Request to Exchange

The company has requested BSE Limited to update the corporate action details on their trading platform.