Corporate Action4 Nov 2026, 06:50 pm
Alstone Textiles to issue ₹300 Cr NCPS via loan conversion
AI Summary
Alstone Textiles (India) Ltd announced that its Board of Directors has approved the allotment of 30,00,00,000 Non-Convertible Preference Shares (NCPS) with a face value of Rs. 1/- each, aggregating to Rs. 300,00,00,000/- (Rupees Three Hundred Crore only). This issuance is being done by way of conversion of an existing unsecured loan of the same amount into NCPS. The preference shares will carry a coupon of 2% per annum and have a tenure of 10 years, redeemable at par. The allotment is on a private placement basis to one allottee, Golkonda Aluminium Extrusions Limited.
Key Highlights
- Board approves issuance of 300 Crore NCPS.
- Total value of issuance is Rs. 300 Crore.
- Issuance is via conversion of unsecured loan.
- NCPS carry 2% annual coupon and 10-year tenure.
- Allotment is on a private placement basis.
Price Impact
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