California Software Board Meeting Outcomes
California Software Company Limited (BSE: CALSOFT) informed exchanges on May 27, 2026 that its Board of Directors approved several capital restructuring measures at their meeting held the same day. The announcement, filed under SEBI (LODR) Regulations, 2015, covers redemption of preference shares and changes to the payment schedule for partly paid equity shares issued via a Rights Issue.
OCRPS Redemption Details
The board cleared redemption of 4,18,700 OCRPS (Optionally Convertible Redeemable Preference Shares) held by Chemoil Advanced MGMT Services Private Limited. The total redemption value stands at ₹4,18,70,000. Upon completion of the prescribed formalities, these OCRPS will be cancelled. The payment toward redemption has also been approved in the same amount, signaling completion of the transaction process.
- Number of OCRPS redeemed: 4,18,700
- Holding entity: Chemoil Advanced MGMT Services Private Limited
- Redemption amount: ₹4,18,70,000
- Status post-formalities: Cancellation
Rights Issue Call Money Extension
For shareholders holding partly paid-up equity shares issued through the Rights Issue, the board approved a one-month extension for payment of the First and Final Call Money. This move offers additional breathing room to investors who have yet to fulfill their payment obligations on these shares.
The board has also granted approval for forfeiture of such partly paid-up equity shares if the call money remains unpaid even after the extended deadline. This follows the provisions of applicable laws and the terms specified at the time of the Rights Issue. Shareholders are advised to ensure timely payment to avoid losing their holding in the company.
Administrative Approvals
Directors and authorized officers have been empowered to carry out all necessary acts, deeds, and regulatory filings required to execute these decisions. This includes coordination with registrars, depositories, and other relevant bodies to update records and ensure compliance with SEBI listing requirements.
California Software Company Limited operates primarily in the information technology and software services sector. Investors holding CALSOFT scrips on the BSE should monitor for further announcements regarding the exact timeline for OCRPS redemption completion and the extended last date for call money payment on the partly paid shares.
Retail investors are encouraged to review the complete regulatory filing and consult a SEBI-registered investment advisor before making any investment decisions based on this development. The information in this article is sourced directly from the company's exchange filing and does not constitute financial advice.