Redemption of unlisted preference shares as per attached letter
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Awaiting price reaction for this filing.
The Board of Directors of Remi Edelstahl Tubulars Limited approved the redemption of 4,00,000 unlisted 6% Non-Cumulative, Non-Convertible preference shares of Rs 100 each, at their nominal value, totaling Rs 4 Crores. The decision was made at a Board meeting held on September 19, 2025, and disclosed under SEBI Listing Regulations. Since the shares are being redeemed at face value with no premium, this is a routine capital restructuring exercise to retire unlisted preference share capital.
This is a neutral event for equity shareholders — the company is using cash to retire unlisted preference capital, simplifying its capital structure. No direct impact on equity share price, though it slightly reduces future dividend obligations on preference shares.