The meeting commenced at 04:00 P.M. and concluded at 04:30 P.M. at the company's Registered Office in New Delhi.
The Board considered and approved the allotment of ₹300,00,00,000 (Rupees Three Hundred Crore only) comprising 300,00,00,000 Non-Convertible Preference Shares (NCPS) of face value of ₹1 each, at par. This allotment is made out of the company's Authorised Preference Share Capital of ₹500,00,00,000 (Rupees Five Hundred Crore only).
The issuance is by way of conversion of an existing unsecured loan of ₹300,00,00,000 (Rupees Three Hundred Crore only) into NCPS. The allotment was made on a private placement basis to a single allottee: Golkonda Aluminium Extrusions Limited.
Key Terms of the NCPS:
- Type of Security: 2% Non-Convertible Preference Shares (NCPS)
- Face Value: ₹1 per share
- Issue Price: At par (₹1 per NCPS)
- Total Number of Securities: 300,00,00,000 shares
- Total Amount: ₹300,00,00,000
- Dividend: 2% per annum, non-cumulative
- Tenure/Maturity: 10 years from the date of allotment, redeemable at par
- Conversion: Not applicable (non-convertible)
Capital Structure Impact:
Post this allotment, the paid-up Preference Share Capital will be ₹300 crore. The Authorised Preference Share Capital remains unchanged at ₹500 crore.
The announcement was signed by Deepak Kumar Bhojak, Managing Director (DIN: 06933359), on behalf of the Board of Directors.