Corporate Action14 Aug 2026, 03:59 pm
Electrotherm Allots 1.09 Cr Preference Shares Post NCLT Order
AI Summary
Electrotherm (India) Ltd announced the allotment of 1,09,50,000 6% Non-Cumulative Redeemable Preference Shares of Rs. 10 each to existing preference shareholders, excluding Ahmedabad Aviation and Aeronautics Limited. This action was taken pursuant to a Hon'ble NCLT Order dated July 21, 2026, and in accordance with Section 55(3) of the Companies Act, 2013. The company also redeemed 10,50,000 preference shares at par for Ahmedabad Aviation and Aeronautics Limited. These newly allotted preference shares will be unlisted. The Board also approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
Key Highlights
- Allotment of 1.09 Cr preference shares to existing shareholders.
- Action taken as per NCLT Order and Companies Act, 2013.
- Partial redemption of preference shares for a non-consenting shareholder.
- Unaudited financial results for Q1 FY27 approved.
- Newly allotted preference shares will be unlisted.
Price Impact
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