Those investors who are waiting in the queue to get the bonus to be distributed by Reliance Industries to its investors and have partially paid shares of the company have got some relief. The company has informed that the last date for payment of call money for these PP shareholders has been extended. The company has informed about its decision late on Friday night. As per the earlier announcement, the last date for payment was ending on 20 September.

What information has the company given?

In a letter sent to the stock market on Friday, the company informed that the last date for payment of the remaining call money by the PP shareholders has been extended. The company has decided that if the outstanding call money and interest on it is not paid by October 7, then such PP shares will be canceled. In Friday's trading, the stock of Reliance Industries closed at 2973 with a gain of more than 1 percent. The company has announced to give one bonus share on one share to its investors. Earlier, in the board meeting held on 5 September 2024, the last date for payment of outstanding call money of PP shares was fixed as 20 September, which has now been extended. If the payment is not made by the last date, the company will cancel these shares.

What are Partly Paid Shares

Partly Paid Shares (PP Shares) or Partly Paid Shares are such shares for which investors have made only partial payment. Companies offer such shares on their own. With its help, investors can hold more stock with less money and can acquire full shares by paying the amount from time to time.

Under this, first application money is taken from the investors, after which investors have to deposit the remaining amount in installments when the company asks them for payment, which is called Call. A date is fixed for this and investors have to pay the full amount or the amount demanded by this date. If investors do not deposit the amount by this date, then PP shares are confiscated. Apart from this, companies can also charge interest on the unpaid amount. Companies fix the date of call money in advance and inform the investors about it on time.