Siyaram Silk Mills Approves Allotment of Preference Shares Under Scheme of Arrangement
Siyaram Silk Mills Limited announced that its Allotment Committee approved the allotment of Preference Shares to all equity shareholders of the company. The approval was granted on August 25, 2026, following the Scheme of Arrangement that was previously approved by the Hon'ble National Company Law Tribunal, Mumbai Bench, on July 21, 2026.The allotment, which is made by way of bonus, covers two distinct series of preference shares. These shares were allotted to each equity shareholder whose name was recorded in the company's register of members or the records of the concerned depository as of the Record Date, August 22, 2026.
Under the terms of the Scheme, the company granted bonus shares as follows:
- Series I: Four (4) 9% cumulative non-convertible redeemable preference shares of face value ₹ 10 each, fully paid up, for every one (1) equity share of face value ₹ 2 each held by the shareholder. These shares are redeemable on or before the expiry of three years from the date of allotment.
- Series II: Three (3) 9% cumulative non-convertible redeemable preference shares of face value ₹ 10 each, fully paid up, for every one (1) equity share of face value ₹ 2 each held by the shareholder. These shares are redeemable on or before the expiry of five years from the date of allotment.
The resulting Preference Shares are designated as Series I and Series II, collectively forming the 'Preference Shares' under the scheme.
The brief terms and conditions for both security series are detailed below:
| Sr. No. | Name of the Security | ISIN | Date of Allotment | Date of Maturity | Coupon Rate per annum |
|---|---|---|---|---|---|
| 1 | 9% cumulative non-convertible redeemable Preference Shares Series - I | INE076B04022 | 25th August, 2026 | On or before 24th August, 2029 | 9% |
| 2 | 9% cumulative non-convertible redeemable Preference Shares Series - II | INE076B04014 | 25th August, 2026 | On or before 24th August, 2031 | 9% |
Siyaram Silk Mills Limited is undertaking the necessary applications with the stock exchanges for the listing and trading of the preference shares as per the Scheme.
SIYSIL Stock Price Movement
Siyaram Silk Mills Limited shares today slipped by 3.65% to close at ₹567.2, marking a decline of ₹21.45 from the previous day's close. The stock was traded 85,777 times during the session.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.
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