Allotment of 1250 nos. of 0% Non-Convertible Redeemable Preference Shares (NCRPS) on Private Placement basis
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
TCI Industries has allotted 1,250 Non-Convertible Redeemable Preference Shares (NCRPS) on a private placement basis to Transcorp Estates Private Limited, an entity belonging to the company's Promoter and Promoter Group. Each NCRPS has a face value of Rs. 100 and was issued at a premium of Rs. 300, making the total issue price Rs. 400 per share and aggregate consideration Rs. 5 lakh. The shares carry no dividend (0%), no voting rights, and are not convertible into equity; they will be redeemed at a maximum premium of 18% simple p.a. on the issue price (up to Rs. 400 per share) within 20 years, at the company's option. There is no change in the company's paid-up equity share capital and the NCRPS will not be listed on any stock exchange.
This is a small capital infusion of only Rs. 5 lakh from the promoter group, so it has negligible impact on the stock price or shareholder value. Existing equity shareholders are not affected as the NCRPS are non-convertible, carry no dividend rights, and have no voting rights; the promoter group is effectively providing quasi-debt funding to the company.