Announced Tue, 8 Sept, 2026 · 22:43 IST
Board approves preferential shares for creditor settlement
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AI summary
Board approved up to 24,99,000 equity shares at Rs 10 each, equal to par value, for settling amounts due to unsecured creditors of Premier Futsal Management under a tribunal-approved resolution plan. The issue totals Rs 2,49,90,000, is for consideration other than cash, and will go to three non-promoter recipients. Authorized capital rises to Rs 10 crore, subject to shareholder and regulatory approvals.
Likely market impact
Completion will dilute existing holders and bring no cash into the company; shareholder and regulatory approvals remain pending.