Meeting Details
Nature and Purpose: The Share Allotment Committee meeting was held on 6th November 2026 to approve allotment of preference shares on a private placement basis.
Timing: The meeting started at 4:00 P.M. and ended at 4:10 P.M. (duration: 10 minutes).
Resolutions Passed and Allotment Details
The committee approved allotment of 25,00,00,000 (Twenty-Five Crore) 0.01% Non-Convertible Non-Cumulative Redeemable Preference Shares (NCRPS) of ₹10/- each.
Total capital raised: ₹250,00,00,000 (Rupees Two Hundred and Fifty Crore Only).
Allottee: Ocean Capital Market Limited (Promoter of the Company).
Allotment was made against receipt of subscription money at par value of ₹10 per share.
Financial Instrument Details
Type: 0.01% Non-Convertible Non-Cumulative Redeemable Preference Shares (NCRPS)
Issuance Type: Private Placement
Number of Investors: 1 (One)
Issue Price: ₹10/- per NCRPS (issued at par)
Listing Status: The NCRPS will remain unlisted
Tenure: 22 months from date of allotment (6 November 2026 to 5 September 2028)
Dividend: 0.01% per annum on non-cumulative basis, if declared by Board of Directors
Security: Unsecured (no charge created over assets)
Redemption: Shares shall be redeemed at maturity providing an internal rate of return (IRR) of 12% per annum, compounded annually
Redemption Source: Out of profits available for dividend and/or proceeds of fresh issue of shares as permissible under Section 55 of Companies Act, 2013
Post-Allotment Capital Structure
Preference Share Capital: 25,00,00,000 shares worth ₹250,00,00,000
Compliance References
Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/P/2023/123 dated July 13, 2023
Section 55 of the Companies Act, 2013
Additional Information
No delay in payment or default history reported
No special letters or comments regarding payment/non-payment
No use of proceeds mentioned in the document