Please find enclosed herewith intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, regarding redemption of unlisted class II 0% Non-cumulative ....
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Organic Recycling Systems Ltd announced the redemption of 40,345 unlisted Class-II 0% Non-cumulative Redeemable Preference Shares of Rs. 10 face value each. Out of these, 20,345 shares were redeemed at Rs. 12,480 per share and 709 shares at Rs. 11,525 per share, aggregating to about Rs. 26.21 crore. The redemption will be carried out in one or more tranches, funded from the proceeds of a fresh equity issue allotted on conversion of warrants. The Board approved this at a meeting held on April 3, 2025. The redemption pricing is based on a valuation report from the Registered Valuer as per the original terms of issuance.
This is a preference share redemption that is part of the company's planned capital restructuring. Since these are unlisted preference shares, the move is unlikely to have a direct impact on the traded equity stock price, but it simplifies the company's capital structure by reducing outstanding preference share obligations.