Announced Thu, 27 Aug · 15:16 IST
NCLT sanctions TVS Holdings bonus preference share scheme 46 to 1
TVSHLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹13526.00
prior close
₹13450.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0——-0.8-2.2-2.0-3.4-2.8+1.3-5.0———
Up moveDown movePending
AI summary
TVS Holdings has received NCLT Chennai approval for its scheme to issue 6 percent cumulative non-convertible redeemable preference shares as bonus to equity shareholders at 46 to 1 ratio (46 shares of INR 10 each per 1 equity share of INR 5). Tenure is 15 months, redeemable at face value, listed on BSE and NSE. Move aims to distribute surplus reserves to shareholders. Record date to be fixed.
Likely market impact
Shareholders get listed bonus preference shares paying 6 percent annually; redemption in 15 months returns surplus cash to investors.