Board approves allotment of 41,17,160 equity shares and 84,99,592 NCRPS under the Scheme of Arrangement

Board approved allotment of 41,17,160 equity shares and 84,99,592 non-convertible redeemable preference shares (NCRPS) of Rs. 10/- each at par to eligible equity shareholders of Royal Spinwell and Developers Private Limited as on the.

Mon 5 Oct 2026

Equity Shares Allotted

41,17,160 equity shares of Rs. 10/- each at par

NCRPS Allotted

84,99,592 non-convertible redeemable preference shares of Rs. 10/- each at par

Paid-up Equity Share Capital

rises from Rs. 36,58,84,620 to Rs. 40,70,56,220

Scheme background

• The allotment is pursuant to the Scheme of Arrangement in the nature of merger / amalgamation of Royal Spinwell and Developers Private Limited (RSDPL) with Royal Cushion Vinyl Products Limited, as sanctioned by the Hon'ble National Company Law Tribunal, Mumbai Bench.
• The Scheme has become effective from August 30, 2026.
• The Board considered and approved the allotments on Monday, October 05, 2026, through approval of resolution by circulation. The allottees are the eligible equity shareholders of RSDPL holding equity shares as on the Record Date of September 30, 2026.

What was allotted

• 41,17,160 equity shares of Rs. 10/- each at par. These shares rank pari passu in all respects with the existing equity shares and shall be listed and traded on BSE Limited, subject to receipt of necessary approvals from the stock exchange.
• 84,99,592 NCRPS of Rs. 10/- each at par.

Capital impact

• Paid-up equity share capital moves from Rs. 36,58,84,620 to Rs. 40,70,56,220, comprising 4,07,05,622 fully paid-up equity shares of Rs. 10/- each.
• Paid-up preference share capital increases by Rs. 8,49,95,920, comprising 84,99,592 fully paid-up NCRPS of Rs. 10/- each.

Terms of the NCRPS

• Face value of Rs. 10/- each, fully paid-up on allotment.
• Non-convertible, redeemable, and shall not be listed on any stock exchange.
• Voting rights only where a resolution directly affects the rights attached to the NCRPS, and on any resolution for winding up of the Company or for repayment or reduction of the equity or preference share capital; voting on a poll is in proportion to the holder's share in the paid-up preference share capital.
• Dividend: ranks for dividend, if declared by the Company, in priority to the equity shares and other preference shares, if any, and carries a preferential dividend rate of 6% per annum.
• Repayment of capital only upon dissolution or winding up, to the extent of the paid-up face value, before repayment of the paid-up face value of the equity shares.
• No right to participate in surplus assets on winding-up, liquidation or otherwise.
• Redemption at par or at such premium as may compensate non-declaration or non-payment of dividend, as mutually agreed, at any time after the expiry of one year from the date of allotment, at the request of the NCRPS holder or at the Company's initiation, subject to a maximum tenure of 20 years.

What it means for shareholders

• The equity shares are being issued as consideration to shareholders of the transferor company, so the total equity share count and paid-up equity capital both increase.
• The NCRPS are a preference instrument: they rank ahead of equity for dividend and for capital repayment on winding up, but they are unlisted and carry limited voting rights.
• The new equity shares rank equally with existing equity shares, and their listing and trading on BSE Limited is subject to receipt of the necessary approvals from the stock exchange.

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.