Siyaram Silk Mills Announces Record Date for Bonus Preference Shares Allotment
Siyaram Silk Mills Limited has announced a key date concerning its bonus preference shares scheme, following the sanctioning of the proposal by the National Company Law Tribunal (NCLT). The company set August 22, 2026, as the Record Date to determine eligible shareholders who will receive the newly allotted preferences.The scheme for the issuance of bonus Preference Shares has been made effective from July 30, 2026. Under the terms of the Scheme and NCLT approval, Siyaram Silk Mills Limited confirmed that it will allot preference shares as a bonus to each equity shareholder who is recorded in the company's register of members or depository records on the specified Record Date.
The allotment utilizes the company’s general reserves and involves two distinct series of non-convertible redeemable preference shares, based on the holding of one equity share (face value ₹2/-).
The bonus issue structure for both Series I and Series II is as follows:
| Preference Share Details | Series I | Series II |
|---|---|---|
| Number of Shares per 1 Equity Share | 4 shares | 3 shares |
| Face Value per Share | ₹10/- | ₹10/- |
| Coupon Rate (Cumulative) | 9% | 9% |
| Maximum Redemption Period | Within 3 years from allotment date | Within 5 years from allotment date |
The preference shares offered under both Series I and Series II are cumulative and non-convertible.
Siyaram Silk Mills Limited stated that it will undertake necessary further actions to give effect to the Scheme and will provide requisite disclosures as required.
SIYSIL Stock Price Movement
Shares of Siyaram Silk Mills Limited rallied on Friday, closing at ₹604 after the stock gained 0.28% over the trading session. The equity traded a volume of 52,033 shares, having seen intraday volatility range from a low of ₹591 to a high of ₹609.85.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.