TVS Holdings has completed the allotment of over 93 crore 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS). Shareholders received 46 preference shares for every 1 equity share held as of the September 8 record date. These shares, part of an NCLT-approved arrangement, carry a 15-month redemption tenure and are slated for future listing on the BSE and NSE.
TVS Holdings Completes Allotment of 93.06 Crore NCRPS
Total Allotted: 93,06,76,784 NCRPS
Coupon Rate: 6% per annum
Reader Takeaway: Bonus preference share issuance completes a pre-approved NCLT scheme; look for forthcoming listing and demat credit updates.
What just happened
TVS Holdings Ltd has formally allotted 93,06,76,784 Bonus 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS). The allotment follows the Scheme of Arrangement sanctioned by the National Company Law Tribunal, Chennai Bench, on 18th August 2026. The issue was distributed to shareholders on record as of 8th September 2026, at an entitlement ratio of 46 NCRPS for every single equity share held.
Why this matters
This corporate action represents the final implementation step of the company’s capital restructuring plan. The NCRPS, issued at a face value of INR 10, carry a coupon rate of 6% per annum. For existing shareholders, this effectively expands their holding footprint within the company’s capital structure through fixed-income yielding instruments.
Terms of the NCRPS
The preference shares come with specific redemption milestones:
- Redemption Period: Fixed at 15 months, maturing on 9th December 2027.
- Early Redemption: The Board of Directors holds the discretion to trigger redemption anytime after 12 months from the date of allotment.
What changes now
The company is currently coordinating with depositories to ensure the electronic credit of these shares into the demat accounts of eligible shareholders. Simultaneously, TVS Holdings is preparing to initiate the listing process with BSE and NSE to enable trading for these preference shares.
What to track next
Investors should monitor future exchange notifications regarding the exact date of listing and the commencement of trading for the NCRPS (ISIN: INE105A04039). No further action is required from shareholders as the credit process is handled automatically through the depository system.