NRB Industrial Bearings Limited has informed the Exchange regarding Notice of Postal Ballot
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Awaiting price reaction for this filing.
NRB Industrial Bearings Limited has sent a Postal Ballot Notice to shareholders seeking approval (via special resolution) to extend the redemption period of its 2% Cumulative, Redeemable, Non-Convertible Preference Shares worth ₹20 crore (2 crore preference shares of ₹10 each, allotted in 4 tranches of 50 lakh each in March-April 2016). The company proposes to push back the redemption by 3 years — from late March/early April 2026 to corresponding dates in March/April 2029. The preference shareholders have already given their consent, and the company says the extension is needed to maintain an optimal capital structure and meet financial requirements. E-voting will run from February 25, 2026 (9:00 AM) to March 26, 2026 (5:00 PM), with the cut-off date for eligibility set as February 20, 2026.
For common equity shareholders, this is largely neutral — the extension does not affect equity capital, but it does delay the company's cash outflow of ₹20 crore by 3 years. Promoters (Devesh Singh Sahney, Aarti Sahney, and Mallika Sahney) are interested parties as holders of these preference shares, so this is effectively a related-party-driven capital structure change. Investors should watch the e-voting outcome, but since preference shareholders have already consented, the resolution is likely to pass.