ZUARI INDUSTRIES LIMITED has informed the Exchange about Redemption of 58,52,034 unlisted 10.5% Non-Convertible Redeemable Preference Shares ( 10.5% NCRPS ) of Rs. 10/- each of the Company.
ZUARIIND · price
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Zuari Industries has announced the redemption of 58,52,034 unlisted 10.5% Non-Convertible Redeemable Preference Shares (NCRPS) with a face value of Rs. 10 each. The total redemption value is approximately Rs. 5.85 crore. These preference shares carried a fixed dividend rate of 10.5% and were redeemable in nature, meaning the company is now returning the face value to the preference shareholders. The shares were unlisted and do not affect the company's equity capital structure for common shareholders.
This is a routine capital structure action involving a small, unlisted instrument and is unlikely to have any meaningful impact on the company's listed equity share price or common shareholders. The redemption simplifies the company's capital structure by removing a fixed-return obligation.