Result of Postal Ballot - Variation in terms of redemption of 70,00,000 Zero% NCRPS of the Company issued to the Holding Company, IITL.
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IITL Projects Ltd has informed the stock exchange that its shareholders have approved, through a Special Resolution via Postal Ballot, a variation in the terms of redemption of 70,00,000 (70 lakh) Zero% Non-Convertible Redeemable Preference Shares (NCRPS). These preference shares were originally issued to the company's holding company, Industrial Investment Trust Limited. The approval was secured through remote e-voting, and the disclosure is being made under SEBI Listing Regulations. No new financial details, revised timelines, or revised redemption amounts have been disclosed in this filing.
This is an internal arrangement between IITL Projects and its parent company, with no direct impact on equity shareholders' dividends or shareholding structure. Retail investors should look for a follow-up filing with revised redemption terms, as this could affect the company's future cash outflows and capital structure.