Allotment of 2500 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 2,500 NCRPS at Rs. 400 each (Rs. 100 face value + Rs. 300 premium) on a private placement basis, raising Rs. 10 lakhs in total. The shares carry a 0% dividend, are non-convertible, non-listed, and carry no voting rights. They were allotted to ABC India Limited, which belongs to the company's Promoter and Promoter Group, following shareholder approval received via postal ballot in March 2023. The shares will be redeemed at the company's discretion within 20 years, with a maximum redemption premium of 18% per annum (simple) on the issue price, capped at Rs. 400 per share. There is no change in the company's paid-up equity share capital as a result of this allotment.
This is a small promoter-group capital infusion (Rs. 10 lakhs) that does not dilute equity shareholders or change the equity capital base, so it should have no direct impact on the stock price. The structured redemption premium of up to 18% p.a. signals promoter confidence but represents a future repayment obligation for the company.