Adroit Infotech forfeits 2.64M partly paid shares on call money default
The board forfeited 2.64 million partly paid shares (4.5% of equity) after holders missed the May 22 deadline. The rest is routine: internal auditor change, executive pay revision, ESOP tweaks.
— 2 earlier stories on Adroit Infotech Ltd. →What's new
- Board forfeited 2.64M partly paid shares after call money missed May 22 deadline.
- Internal auditor Ravi Daryavesh resigned; replaced by Thirumareddy Praveen Kumar effective June 13.
- Proposed modifications to AIL ESOP-2023 scheme, subject to shareholder approval at 14 August AGM.
Why this matters
The forfeiture cancels about 4.5% of shares, modestly boosting per-share metrics. The rest of the agenda is procedural: an auditor change, an executive pay update, and ESOP tweaks requiring shareholder nod. Nothing here signals a strategic shift or material financial surprise.
What we're watching
- Shareholder vote on ESOP modifications at 14 August AGM.
- Any subsequent allocation or cancellation of forfeited shares.
- Whether the call-money default indicates broader financial strain among partly-paid shareholders.
The full read
Adroit Infotech's board forfeited 2.64 million partly paid shares (about 4.5% of equity) after holders missed the May 22 deadline for call money. The shares are now cancelled, trimming the equity base and potentially lifting per-share earnings. The rest of the meeting was standard housekeeping: an internal auditor switch (Ravi Daryavesh out, Thirumareddy Praveen Kumar in effective 13 June), a remuneration revision for the CEO and COO via the subsidiary, and proposed ESOP modifications tabled for shareholder approval at the 14 August AGM. No financial details were attached to any of these items. On a ₹52 cr market cap company with trailing revenue up 25.6% and FY26 net profit of ₹3.30 cr, the forfeiture is the one structural move, but its impact is modest. The filing is procedural; the next real event is the AGM.
Questions answered
- How many shares were forfeited and what percentage of equity does that represent?
- 2.64 million partly paid shares were forfeited, representing about 4.5% of equity as per the filing.
- Why were these shares forfeited?
- Holders of these partly paid shares failed to pay the outstanding call monies by the May 22 deadline.
- What happens to the forfeited shares now?
- The shares revert to the company. Typically, they can be cancelled or reissued, but the filing does not specify further steps.
- What changes were made to the internal audit function?
- Ravi Daryavesh resigned as internal auditor, and Thirumareddy Praveen Kumar was appointed effective June 13.
- Are the ESOP plan modifications material?
- The proposed changes to the AIL ESOP-2023 scheme were noted but not detailed. They are subject to shareholder approval at the upcoming AGM.
Adroit Infotech Ltd.
Latest quarter · Mar 2026
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All notes on ADROITINFO →- 20 Jul 2026 · 5:39 PM IST Adroit Infotech forfeits 2.64M partly paid shares on call money default
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