Board approves reduction and cancellation of redeemable preference shares
DNAMEDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.4 pts less than its Media peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
The board approved a scheme to cancel 4,362,656,265 6% redeemable preference shares of Rs 1 each. Rs 173.40 crore, or Rs 0.3975 per share, will be set off against the preference shareholder's loan to the company, while the remaining Rs 262.86 crore, or Rs 0.6025 per share, will be reduced. After approvals, only 117,708,018 equity shares of Rs 1 each will remain, with no change in ownership. The move preserves cash and lowers future redemption liability, but interim accounts carry a modified audit opinion.
After approvals, it removes the preference share and redemption liability without reducing equity shares or changing ownership, supporting liquidity.