NCLT approves bonus preference share issue for Siyaram Silk Mills

Nclt Scheme FiledStrategic Transactions View source PDF

SIYSIL · price

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AI summary

NCLT Mumbai has sanctioned Siyaram Silk Mills' Scheme of Arrangement for issuing bonus preference shares to equity shareholders, funded from general reserves. Ratio: 4 Series I preference shares (Rs 10 face value) plus 3 Series II preference shares (Rs 10 face value) for every 1 equity share held. The preference shares will be listed on stock exchanges. The scheme was approved by shareholders and creditors with no objections from any party.

Likely market impact

Shareholders will receive 7 bonus preference shares per equity share held; positive as surplus reserves are returned to investors.