Allotment of 7500 nos. of 0% Non-Convertible Redeemable Preference Shares on Private Placement basis.
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TCI Industries Ltd has allotted 7,500 Non-Convertible Redeemable Preference Shares (NCRPS) to promoter group members — 6,875 shares to Mrs. Nidhi Agarwal and 625 shares to Mrs. Kanika Agarwal. Each NCRPS has a face value of Rs. 100 issued at a premium of Rs. 300, making the total issue price Rs. 400 per share and overall raise of Rs. 30 lakh. The shares carry no dividend (0%) and are non-convertible, with redemption possible at up to 18% simple annual premium on the issue price (max Rs. 400 per share extra) within 20 years, at the company's discretion. The allotment was approved by members via postal ballot in March 2023. No change in the company's equity share capital, and the NCRPS will not be listed on any stock exchange.
This is a modest capital infusion of Rs. 30 lakh from promoter family members, signalling promoter commitment but at a small scale. Since these are non-convertible preference shares with no dividend and no equity dilution, existing shareholders are unaffected and there is no immediate impact on stock price or earnings per share.