Transformers and Rectifiers (India) Limited (TARIL) announced key decisions following its Board of Directors meeting held on January 8, 2025. Here are the highlights:
- Bonus Equity Shares Issue:
- The Board approved a 1:1 bonus issue, offering one fully paid equity share for every existing equity share held.
- The bonus shares will be issued from the securities premium account, general reserves, or retained earnings.
- The pre-bonus share capital stands at ₹15.01 crore, which will double to ₹30.02 crore post-bonus issuance.
- Qualified Institutional Placement (QIP):
- The company plans to raise up to ₹750 crore through the issuance of equity shares via QIP, subject to shareholder approval.
- Alteration of Memorandum and Articles of Association:
- Changes include an increase in the authorized share capital to ₹50 crore and the removal of the common seal clause.
- Extraordinary General Meeting (EGM):
- An EGM will be held on February 3, 2025, to seek shareholder approval for the aforementioned proposals.
These decisions reflect TARIL’s growth strategy and commitment to enhancing shareholder value.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
TOPICS:
Transformers and Rectifiers