The board of directors of TCI Industries on Tuesday allotted 475 (zero per cent) non-convertible redeemable preference shares of ₹100 each at a premium of ₹300 each to Transcorp Estates Private Ltd, an entity belonging to the promoter group of the company, for cash. Allotment of NCRPS does not result in a change in the paid-up equity share capital of the company. The NCPRS are not convertible into equity shares; and will not be listed with any stock exchange. Shares of TCI Industries closed flat at ₹840 on the BSE.
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