Piccadily Sugar & Allied Industries Ltd. Approves Issuance of Non-Convertible, Cumulative, Non-Participating, Redeemable Preference Shares on Private Placement Basis

Piccadily Sugar & Allied Industries Ltd. has approved the issuance and allotment of non-convertible, cumulative, non-participating, redeemable preference shares (NCRPS) on a private placement basis. The total number of securities issued is 1,00,00,000 for an aggregate value not exceeding Rs. 10,00,00,000. The NCRPS will rank for dividend in priority to the Equity Shares and shall not be convertible into equity shares. The NCRPS shall not carry any voting rights and shall be redeemable at any time within a period not exceeding 20 years from the date of allotment.