Announced Wed, 28 Oct, 2026 · 12:09 IST
Allotment of 1 crore non-convertible redeemable preference shares at Rs 10 each
Price
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Price reaction
Awaiting price reaction for this filing.
AI summary
The board approved the allotment of 1 crore unlisted non-convertible redeemable preference shares at Rs 10 each, raising Rs 100 crore in the first tranche after funds were received. The shares pay a 5% annual cumulative dividend, mature on 28 October 2033 and are unsecured. The company or investors may redeem them after two years, with 30 days notice, subject to terms. They have priority over ordinary shares for dividends and repayment.
Likely market impact
Raises Rs 100 crore of preferred capital with Rs 5 crore annual dividends. No new ordinary shares, but redemption in 2033 may affect cash flow.