Notice of meeting of preference shareholders of the company (Class Meeting)
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kanoria Energy & Infrastructure Limited has called an EGM of preference shareholders on 19th June 2026 to seek approval for early redemption of 5% Redeemable Preference Shares. The company wants to reduce the redemption period on request of 11,01,150 preference shares worth Rs. 100 each (totaling Rs. 110.12 crore). The preference shares were issued between 2019 and 2024 with original redemption dates ranging from 2029 to 2034. The shareholders including Smt. Prabha Devi Kanoria, Anish Kanoria, and various group companies like Kanoria Properties Pvt Ltd, construction and finance companies have requested early redemption. This requires a special resolution passed by 3/4th of preference shareholders. Directors and KMPs holding these preference shares are deemed interested in the resolution.
If approved, the company will need to redeem Rs. 110.12 crore of preference shares earlier than scheduled, creating a significant cash outflow. This reduces the debt-like burden on the company sooner but may impact liquidity. For equity shareholders, earlier redemption is positive as it reduces future obligation.