ARSSINFRANSEARSS Infrastructure Projects Limited· ConstructionMediumNeutral
Announced Thu, 23 Jul · 17:24 IST
Board appoints new Company Secretary, clears Rs 250 cr promoter preference share issue
Management Changes View source PDF
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Board appointed Mr. Rajendra Biswal as Company Secretary from July 23, 2026. Also approved raising Authorised Share Capital from Rs.110 cr to Rs.500 cr. Plans to issue 25 crore preference shares worth Rs.250 cr to promoter Ocean Capital Market on private placement at 0.01% dividend, 22-month tenure, 12% IRR at redemption. Postal ballot for shareholders runs July 31 to August 29, 2026.
Likely market impact
Preference shares to promoter at attractive 12% IRR may raise governance concerns; non-convertible and unsecured, so limited equity dilution risk.