Siyaram Silk Mills announced the allotment of seven 9% cumulative non-convertible redeemable preference shares for every one equity share held. The company’s Allotment Committee approved the issuance on August 25, 2026, as part of a Scheme of Arrangement approved by the National Company Law Tribunal (NCLT), Mumbai Bench.

The allotment applies to shareholders recorded in the register of members or depository records as on the record date of August 22, 2026. The scheme was sanctioned by the NCLT vide its order dated July 21, 2026, under Sections 230 to 232 of the Companies Act, 2013.

Preference Share Structure

The company issued the preference shares in two distinct series, both carrying a face value of ₹10 each and a coupon rate of 9% per annum. Each series is fully paid up and non-convertible.

Series I shares are redeemable on or before the expiry of three years from the date of allotment. Series II shares carry a longer tenor, redeemable on or before five years from the date of allotment.

Regulatory Filings

The company stated it will file necessary applications with BSE Limited and National Stock Exchange of India Limited for the listing and trading of these preference shares. Additionally, Siyaram Silk Mills will apply under Rule 19(7) of the Securities Contracts (Regulation) Rules, 1957, seeking relaxation from Rule 19(2)(b) of the SCRR.

This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mahipal Thakur, Company Secretary, signed the intimation letter addressed to the stock exchanges.

Siyaram Silk Mills reported an inter-se transfer of equity shares among its promoter group entities, with DPP Enterprises LLP acquiring a significant portion of the stake held by individual promoter Harshit Shrikishan Poddar. The transaction, executed via a block deal on August 17, 2026, involved the transfer of 5,82,900 equity shares, representing 1.28% of the company’s total share capital. The move consolidates promoter group holdings within the LLP structure while reducing direct individual exposure.

The acquisition was carried out at the market price prevailing on the date of the transaction, subject to the provisions of Regulation 10(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and applicable SEBI circulars governing block deals. The company filed the mandatory disclosure under Regulation 29(2) on August 19, 2026, confirming that prior disclosure requirements under Regulation 10(5) were met on August 7, 2026.

Transaction Details

The share transfer reflects a restructuring within the promoter group rather than an open market accumulation or dilution. DPP Enterprises LLP emerged as the transferee, increasing its aggregate holding, while Harshit Shrikishan Poddar divested nearly his entire direct stake.

Regulatory Compliance

The acquirer relied on the exemption under Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, which permits transfers between entities belonging to the same promoter group without triggering an open offer obligation. The disclosure confirms that all requisite filings were made within the timelines specified by the regulator. Pawankumar D. Poddar, authorised signatory for the promoter group, signed the report submitted to both the BSE Limited and the National Stock Exchange of India Limited.