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Newtime Infrastructure Ltd has received in-principle approval from BSE to issue 2,35,50,530 (about 2.35 crore) Compulsorily Convertible Preference Shares (CCPS) of Rs. 1 face value each. The issue price is not less than Rs. 9.50 per share, implying a total fundraise of roughly Rs. 22.4 crore. The shares carry a 10% dividend rate and will be allotted on a preferential basis to the company's promoters. Each CCPS will eventually convert into one equity share of Re. 1. The approval was granted on November 17, 2025, and the company must now complete allotment within SEBI's prescribed timelines and apply for listing within 20 days of allotment.
Since the CCPS are being issued to promoters at a preferential basis, this will dilute existing public shareholders once the preference shares convert into equity. The company is raising capital at a fixed 10% return for the promoter group, which could weigh on future earnings, but it also signals promoter confidence and brings incremental capital to the business.