Board approves scheme to reduce and cancel preference share capital

Corporate Actions View source PDF Explain this filing

DNAMEDIA · price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-1.4% vs market

Media peers, median of 18sector · industry level-0.7%-0.4% vs sector

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.

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AI summary

The board approved cancelling 436.26 crore 6% non-cumulative, non-convertible redeemable preference shares of Rs 1 each. Rs 173.40 crore, or Rs 0.3975 per share, will be set off against inter-corporate deposits, while the remaining Rs 262.86 crore will be reduced. Subject to approvals, paid-up equity capital remains Rs 11.77 crore with no ownership change.

Likely market impact

Reduces future redemption obligations and preserves cash without changing equity ownership or share count. The benefit is subject to regulatory approvals.