Allotment of 6250 nos. of 0% Non-Convertible Redeemable Preference Shares (NCRPS) on Private Placement Basis
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TCI Industries has allotted 6,250 0% Non-Convertible Redeemable Preference Shares (NCRPS) to members of its promoter group on a private placement basis. Each share has a face value of Rs. 100 and was issued at a premium of Rs. 300, taking the total issue price to Rs. 400 per share and raising Rs. 25 lakh in total. Allottees include promoters Dharmpal Agarwal, Vineet Agarwal, and Chander Agarwal (1,250 shares each), along with promoter-group entity ABC India Limited (2,500 shares). The NCRPS carry no dividend, no voting rights, and are non-convertible; they will be redeemable at a maximum premium of 18% per annum (simple) on the issue price within 20 years, at the company's option. Since these are preference shares and not equity, there is no change in the company's paid-up equity share capital and they will not be listed on any stock exchange.
This is a small, promoter-driven capital infusion with no dilution for existing equity shareholders and no listing of the new instrument, so it is unlikely to materially affect the stock price. It effectively gives the company low-cost funding (0% dividend) from related parties, which can be redeemed flexibly on its own terms.