Board meeting on 28 October 2026 to consider allotment of unlisted NCRPS on private placement
Board meeting scheduled for Wednesday, 28 October 2026 at 11:30 AM.
By ScoutQuest · · 2 min read
- Board Meeting Date
- Wednesday, 28 October 2026 at 11:30 AM
- Agenda
- to consider and approve the allotment of unlisted Non-Convertible Cumulative Redeemable Preference Shares (NCRPS) on a private placement…
- Other Business
- authorising the necessary statutory updates, corporate actions and other consequential matters
What was announced
The company has informed BSE that a meeting of its Board of Directors is scheduled for Wednesday, 28 October 2026 at 11:30 AM. The main item of business is to consider and approve the allotment of unlisted Non-Convertible Cumulative Redeemable Preference Shares (NCRPS) on a private placement basis, subject to applicable laws and the terms of issue. The Board will also consider authorising the necessary statutory updates, corporate actions and other consequential matters connected with that allotment.
This is a notice of a scheduled meeting. The allotment is a proposal placed before the Board for its consideration and approval.
Breaking down NCRPS, word by word
- Preference shares are a class of shares that rank ahead of ordinary equity shares when dividends are paid and when capital is returned.
- Non-Convertible means these shares cannot be converted into equity shares.
- Cumulative means that if a dividend is not paid in a year, it accumulates and is payable later.
- Redeemable means the company is to repay the money invested in these shares at the end of the agreed term.
- Unlisted means these shares will not be listed or traded on a stock exchange.
- Private placement means they are issued to a select set of investors rather than to the general public.
How this can matter to equity shareholders
- Because the shares are non-convertible, the allotment does not by itself add to the company's equity share capital or change the voting rights attached to equity shares.
- Preference shares sit ahead of equity in the queue for dividend and for repayment of capital. A cumulative preference dividend is an obligation that builds up if unpaid, and it must be cleared before equity shareholders can be paid a dividend.
- The money raised stays with the company as preference capital until it is redeemed. Redemption is a future cash outflow the company will need to provide for.
- Since these shares are unlisted and placed privately, they will not be tradable on any exchange.
What happens next
- The Board meets on 28 October 2026 to consider and approve the allotment.
- The allotment is subject to applicable laws and to the terms of issue.
- The Board will also consider the statutory updates and corporate actions that follow such an allotment.
In short, the notice sets up a Board decision on raising money through a non-convertible, cumulative, redeemable preference share issue placed privately, with the actual allotment subject to the Board's approval.
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.