TVS Motor bonus share: Two-wheeler maker announces issuance of preferential bonus shares in 4:1 ratio
TVS Motor bonus share, TVS Motor bonus news: TVS Motor Company's board approved the scheme of arrangement between TVS Motor and its shareholders for the issuance of cumulative non-convertible redeemable preference shares (NCRPS) amounting to around Rs 1,900 crore.
TVS Motor bonus share, TVS Motor bonus news: TVS Motor Company's board approved the scheme of arrangement between TVS Motor and its shareholders for the issuance of cumulative non-convertible redeemable preference shares (NCRPS) amounting to around Rs 1,900 crore, by way of bonus by utilizing general reserves or retained earnings of the company.
TVS Motor bonus NCRPS ratio
Four NCRPS of Rs 10 each fully paid up of the company will be given for every one equity share of Rs 1 each fully paid up held as on the record date by the shareholder.
Here are a few other details
- Coupon Rate: 6 per cent per annum
- Redemption/Maturity: The NCRPS shall be redeemed on the expiry of 12 months from the date of allotment of the said NCRPS.
- Redemption Price: Rs 10 per NCRPS including interest as per coupon rate
The NCRPS shall be redeemed on the expiry of 12 months from the date of allotment of the said NCRPS out of the profits of the Company.
What are Non-Convertible Redeemable Preference shares?
Non-convertible preference shares are those shares that are issued to shareholders but cannot be converted to equity shares. These shares do not carry voting rights since they are preference shares.
Earlier, TVS Motor announced an interim dividend of Rs 8 per share on 47,50,87,114 equity shares of Re 1 each fully paid up absorbing a sum of Rs 380 crore.
TVS shares on Thursday, March 21 rose as much as 2.26 per cent to the day's high of Rs 2,080.95 on NSE in morning trade. The auto stock settled at Rs 2,055.55, up 1.01 per cent on NSE.
TVS Q3 results: How did it perform in the October-December quarter?
Riding on the back of robust sales across markets, TVS Motor jumped 59 per cent jump in its consolidated net profit to Rs 479 crore for the third quarter ended December 31, 2023.
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