Emami Paper Mills Limited has informed the Exchange about the Redemption Of Unlisted Series II Tranche III Optionally Convertible Redeemable Preference Shares (OCRPS) having ISIN - INE830C04038.
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Emami Paper Mills has redeemed 2,70,000 unlisted Optionally Convertible Redeemable Preference Shares (OCRPS) of Series II Tranche III (ISIN: INE830C04038) on 27 March 2026. Each share had a face value of Rs.100 and was redeemed at a premium of Rs.500, meaning the company paid Rs.600 per share, totaling approximately Rs.16.2 crore. The redemption was funded entirely out of the company's available profits and reserves, in line with the original terms of issue. This was disclosed to the exchanges under SEBI Listing Regulations.
This simplifies the company's capital structure by eliminating these preference shares and removes the obligation to pay any future preference dividends. Using profits/reserves to redeem at a premium signals adequate internal accruals and may be viewed mildly positively by shareholders.