Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you ....
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Awaiting price reaction for this filing.
Kimia Biosciences' Board, at its meeting on 5 May 2025, approved the redemption of 0.1% Non-Convertible Cumulative Redeemable Preference Shares originally issued to Enkay Foam Private Limited. The redemption will happen in multiple tranches over the next six months, using profits available for distribution. An amount equal to the nominal value of shares redeemed will be transferred to the Capital Redemption Reserve Account as required under the Companies Act, 2013. The preference shares are fully paid-up, and the Board meeting concluded at 12:00 noon.
This is a routine capital structure cleanup that simplifies the company's share capital by retiring a low-cost preference share class held by a specific shareholder. It is unlikely to materially affect ordinary shareholders or the stock price, though it signals internal balance-sheet management.