Corporate News 20-Mar-24
Board of TVS Motor Company approves issue of bonus preference shares
At meeting held on 20 March 2024
The Board of TVS Motor Company at its meeting held on 20 March 2024 has approved the scheme of arrangement between the company and its shareholders which provides for issuance and allotment of cumulative non-convertible redeemable preference shares (NCRPS) by way of bonus in ratio of 4 NCRPS of Rs 10/- each fully paid up of the Company for every 1 equity share of Rs 1 each fully paid up held as on the Record Date.
The NCRPS shall be redeemed on the expiry of 12 months from the date of allotment of the said NCRPS.
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