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TVS Holdings approves allotment of 93 million preference shares to equity shareholders
09-Sep-2026, 08:12
TVS Holdings Limited, formerly known as Sundaram-Clayton Limited, announced that its board of directors approved the allotment of 93,06,76,784 Bonus 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) to its equity shareholders, equivalent to 46 NCRPS of a face value of Rs 10 each for every equity share of Rs 5 each held, as per a scheme of arrangement approved by the National Company Law Tribunal, Chennai Bench. The NCRPS, with ISIN INE105A04039, were allotted on September 9, 2026, and are scheduled to mature on December 9, 2027, carrying a coupon rate of 6% per annum.