ARSS Infra hikes authorised capital to Rs 500 Cr, to issue Rs 250 Cr preference shares to promoter

Board approved raising authorized share capital from Rs 110 Cr to Rs 500 Cr, split as 23 Cr equity and 27 Cr preference shares of Rs 10 each. Plans to issue 25 Cr non-cumulative redeemable preference shares worth Rs 250 Cr to promoter Ocean Capital Market via private placement. Carries 0.01% dividend but 12% IRR via redemption premium over 22 months. Postal ballot sought. New Company Secretary appointed.