Kanoria Chemicals Allots 7% Preference Shares to Promoter Group Entity
Kanoria Chemicals & Industries Limited announced that its Board of Directors, during a meeting held on April 18, 2026, approved the allotment of 7% Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCRPS). The allotment will be executed through a preferential allotment on a private placement basis.The company confirmed the allotment to R. V. Investment and Dealers Limited, identified as a Promoter Group Entity. The preference shares have a face value of Rs. 1,000 each.
According to the details provided, the preferential allotment involves the issuance of 4,95,000 NCRPS. The transaction is structured as follows:
| Particulars | Detail |
|---|---|
| Type of Security | 7% Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCRPS) |
| Type of Issuance | Preferential allotment by way of private placement |
| Total Securities Allotted | 4,95,000 NCRPS |
| Face Value per Share | Rs. 1,000/- |
| Aggregate Consideration | Rs. 495,000,000/- |
| Allotment Price | Rs. 1,000/- per NCRPS |
KANORICHEM Stock Price Movement
On Friday, Kanoria Chemicals & Industries Limited shares edged higher, closing at ₹77.64, reflecting a gain of 3.47% for the day. The stock saw considerable action, trading on 32,618 shares while navigating an intraday range between ₹75.02 and ₹78.85.Source:
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