Eco Hotels And Resorts Ltd
Eco Hotels Rights Issue: 85.46 Lakh Shares Converted After Call Collection
FUNDRAISE
◆ Monitor Closely
MEDIUM RISK
📅 Filed on BSE: 29 Apr 2026, 06:57 PM IST · BSE ID: d66513e4-f848-4cd7-8494-d7089a379cfe
View Original BSE Filing (PDF)
💡
In Simple Terms
The company converted 85.46 lakh partly paid shares after collecting Rs. 3.44 Crore in call money from shareholders who completed both payment stages.
🤖 AI Summary
- 85,45,990 partly paid-up rights equity shares converted to Rs. 7.50 paid-up stage
- Company collected aggregate call money of Rs. 3,44,07,757.40 from eligible shareholders
- Conversion follows receipt of First Reminder Call and Second Call payments
- Rights Issue Committee approved conversion April 29, 2026; shares rank pari passu with existing equity
- Company seeking listing and trading approvals for converted shares
🔢 Key Numbers — exact figures from BSE filing, not rounded
Converted partly paid-up shares
85,45,990 shares
Conversion stage — paid-up value
Rs. 5.00 to Rs. 7.50 per share
Aggregate call money collected
Rs. 3,44,07,757.40
Original partly paid shares issued
1,28,76,808 shares
Call amount per share (First Reminder + Second)
Rs. 3.80 per share (Rs. 2.50 face value + Rs. 1.30 premium)
Original rights issue allotment date
September 26, 2025
Conversion approval date
April 29, 2026
🏢 How This Affects the Company
Company received Rs. 3,44,07,757.40 in call money toward capital raise. Conversion indicates partial success in rights issue collection against earlier stated Rs. 1,957.27 Lakhs target raised.
Incomplete collection — 85.46 lakh shares converted of original 1,28,76,808 partly paid shares issued, indicating collection shortfall of approximately 43.3 lakh shares from shareholders who have not paid both calls.
👥 What This Means For Shareholders
✅
Action Required
Shareholders holding converted shares await listing and trading approval notification; monitor BSE filings for Reg 31 disclosures on next call stage.
👤
Who Is Affected
Shareholders of 85,45,990 converted shares who paid both First Reminder and Second Call. Remaining shareholders of non-converted shares (approximately 43.3 lakh) must complete payment of pending calls or face share forfeiture.
🔍
Management Signal
Phased call approach prioritizes partial capital completion over forcing full collection; suggests liquidity constraints among original rights subscribers.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
BSE listing and trading approval notice for 85,45,990 converted shares — target next 10 business days
Reg 31 disclosure of next call stage timeline and amount for remaining non-converted shares
Collection status update on remaining 43.3 lakh non-converted shares by end Q1 FY27
MEDIUM RISK
Collection completion ratio of 66.3% indicates capital raise execution risk. Potential forfeiture of non-converted shares creates uncertainty on final capital raised.
💡 Investor Takeaway
Eco Hotels converted 85,45,990 partly paid-up shares after collecting Rs. 3,44,07,757.40 in call money. However, only 66.3% of original 1,28,76,808 partly paid shares reached full conversion, confirming earlier deviation disclosures showing collection shortfall versus Rs. 1,957.27 Lakhs original raise target.
⚖️ Strengths & Concerns
✅ Positives
- Conversion of 85,45,990 shares demonstrates disciplined capital calls and shareholder commitment to rights issue.
- Converted shares rank pari passu with existing equity, ensuring no dilution of voting or economic rights.
⚠️ Concerns
- Only 66.3% of originally issued 1,28,76,808 partly paid shares have reached full conversion stage.
- April 2026 deviation filing showed only Rs. 825.77 Lakhs collected against Rs. 1,957.27 Lakhs target, indicating persistent collection challenges.
📅 Company Track Record
Eco Hotels initiated rights issue in August 2025 (Letter of Offer dated August 29, 2025) targeting Rs. 1,957.27 Lakhs. April 2026 deviation filing confirmed collection of only Rs. 825.77 Lakhs, establishing a gap. Extended First Call deadline from April 7 to April 13, 2026 (Reg 30 update April 2) signals payment difficulties. Today's conversion of 85.46 lakh shares represents partial completion after two-stage calls.
Based on publicly available historical data. For context only.