TVS Holdings Limited has informed the Exchange that the Board of Directors at its meeting held on September 22, 2025, have considered and approved bonus Non-Convertible Redeemable Preference shares at the ratio of 46 : 1, i.e 46 Preference Shares of INR 10 each for every 1 Equity Shares of INR 5 each held through Scheme of Arrangement.
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TVS Holdings Limited's Board, on September 22, 2025, approved a Scheme of Arrangement under Sections 230-232 of the Companies Act, 2013, for issuing bonus Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) to its shareholders. The ratio is 46 NCRPS of INR 10 each for every 1 equity share of INR 5 held. The total bonus NCRPS issue size is around INR 986.52 crore, funded from the company's general reserves and retained earnings (which stood at INR 1,456.26 crore as of March 31, 2025). The NCRPS will carry a 6% per annum coupon and will be redeemed at face value after 12 months from the date of allotment. The bonus NCRPS will be listed on NSE and BSE.
Shareholders will receive 46 NCRPS for each equity share held, providing a short-term fixed-income instrument with 6% annual coupon. This is a capital restructuring exercise that converts part of reserves into a redeemable instrument rather than a cash payout, so it does not change the company's overall value but reshapes its capital structure. The scheme still requires NCLT, stock exchange, and shareholder approvals before becoming effective.