Kanoria Chemicals & Industries Limited has completed the allotment of Non-Convertible Redeemable Preference Shares worth Rs 495 crore to its promoter group entity. The board of directors approved this significant capital raising initiative during their meeting held on 18th April 2026.

Board Approval and Meeting Details

The board meeting, which commenced at 12:30 p.m. and concluded at 12:50 p.m. on 18th April 2026, approved the allotment of 7% Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCRPS). The decision was communicated to both NSE and BSE as per regulatory requirements under Regulation 30 of SEBI (LODR) Regulations, 2015.

Preference Share Allotment Details

The company has provided comprehensive details of the preference share issuance:

Investor and Subscription Details

The preferential allotment was made exclusively to R. V. Investment and Dealers Limited, which is classified as a promoter group entity. The company confirmed that the application money has been received from this single investor. The issue price was set at Rs 1,000 per NCRPS, matching the face value of the securities.

Regulatory Compliance

The allotment was conducted in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously informed the stock exchanges about the board meeting through a letter dated 13th April 2026, demonstrating adherence to regulatory disclosure requirements.

The preference shares carry a 7% dividend rate and are structured as non-convertible, non-cumulative, and non-participating securities with redemption provisions. This capital raising exercise strengthens the company's financial position through the infusion of Rs 495 crore from its promoter group.

Kanoria chemicals & industries Limited has announced the approval of its Letter of Offer for Non-Convertible Redeemable Preference Shares following a board meeting held on April 13, 2026. The decision represents a significant step forward in the company's capital raising initiative that had previously received shareholder approval.

Board Meeting Details

The Board of Directors convened on April 13, 2026, to formally approve the Letter of Offer (PAS-4) for Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCRPS). The meeting was efficiently conducted, with proceedings lasting just 20 minutes.

Preference Shares Structure

The approved preference shares carry specific characteristics that define their nature and investor rights. The NCRPS structure includes multiple features that distinguish these securities from ordinary equity shares.

Key features of the approved preference shares include:

• Non-Convertible: Cannot be converted into equity shares
• Non-Cumulative: Dividend rights do not accumulate if unpaid
• Non-Participating: Limited to fixed dividend without participation in surplus profits
• Redeemable: Can be bought back by the company at specified terms

Regulatory Compliance

The Letter of Offer approval follows the company's adherence to regulatory procedures, with the NCRPS having received prior approval from shareholders. The Extra-Ordinary General Meeting held on April 1, 2026, had previously sanctioned this preference shares initiative, demonstrating proper corporate governance protocols.

The company has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Limited and BSE Limited about the board meeting outcome. This ensures transparency and compliance with listing requirements for the capital market initiative.