Disclosure under Regulation 30 SEBI (LODR), 2015 - Extension of Redemption Period of Unlisted Preference Shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prima Industries Ltd's Board has approved extending the redemption date of its 60 lakh unlisted 10% Non-Convertible Redeemable Preference Shares (face value ₹10, total ₹6 crore) from 26 March 2026 to 26 March 2031 [corrected: 26 March 2033]. The company says the extension is for better cash flow management and to align with long-term business plans. The move is subject to shareholder approval at an upcoming general meeting and any other regulatory clearances needed. These are unlisted preference shares, so they do not affect the equity shareholders or the stock price directly.
Neutral for equity shareholders since the instrument is unlisted and affects only the preference shareholders. The extension gives the company more time to manage cash flows but delays a ₹6 crore redemption obligation by 7 years.