Announced Mon, 27 Jul · 14:00 IST
Postal Ballot: Preference share redemption period change passed
Board & Shareholder Meetings View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+1.0%1-day move
₹16.50
prior close
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base price
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AI summary
Kanoria Energy & Infrastructure's postal ballot to vary terms of 11,01,150 5% redeemable preference shares of Rs 100 each (reducing the redemption period at preference shareholders' request) passed as a Special Resolution. Of 76,89,41,32 valid votes polled from 6,699 shareholders, 99.997% voted in favor and just 2,029 votes were against. Promoters (who declared interest) voted 100% in favor.
Likely market impact
Preference shareholders will get earlier redemption of their shares. Near-unanimous approval means smooth, low-risk execution of the change.