Maral Overseas Limited has informed the Exchange regarding allotment of 10,00,000 9.25% Redeemable Non- Convertible Cumulative Preference shares of Rs. 100/- each on private placement basis.
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Maral Overseas has allotted 10,00,000 9.25% Redeemable Non-Convertible Cumulative Preference Shares (RNCPS) of Rs. 100 each, raising Rs. 10 crore. This is the second tranche of a planned Rs. 30 crore preference share issue, with the first tranche of Rs. 10 crore allotted on 26th September 2025. The shares have been issued on a private placement basis to Diplomat Leasing and Finance Private Limited, a Promoter Group Entity. The RNCPS carry a 9.25% cumulative dividend, are redeemable after 10 years (though early redemption is possible with majority consent), are unsecured, and will not be listed. There is no change to the company's paid-up equity share capital.
For ordinary equity shareholders, there is no dilution since these are non-convertible preference shares and not listed. The promoter group's additional investment signals confidence in the company, though the 9.25% cumulative dividend obligation adds a fixed annual financial commitment of about Rs. 92.5 lakh per year per tranche.