NewsCorporate ActionsAI Champdany Industries Renews 1.14 Crore Non-Convertible Preference SharesAI Champdany Industries Renews 1.14 Crore Non-Convertible Preference Shares
AI Champdany Industries Ltd has renewed 1,14,14,353 non-convertible preference shares, each valued at Rs. 5.00, for an additional five years. The 2% cumulative preference shares, originally set to mature on March 30, 2025, will now extend until March 29, 2030. This renewal, executed under Section 48 of the Companies Act, 2013, maintains all other terms unchanged. The company, known for weaving and spinning, disclosed this information through a regulatory filing to the Bombay Stock Exchange.
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AI Champdany Industries Ltd , a pioneer in weaving and spinning, has announced the renewal of its non-convertible preference shares, extending their term for an additional five years. This move, disclosed through a regulatory filing to the Bombay Stock Exchange, demonstrates the company's strategic financial planning.
Key Details of the Renewal
| Aspect | Details |
|---|---|
| Number of Shares | 1,14,14,353 non-convertible preference shares |
| Share Value | Rs. 5.00 each |
| Type | 2% cumulative preference shares |
| Renewal Date | March 30, 2025 |
| Extended Period | Five years, until March 29, 2030 |
| Legal Basis | Renewed under Section 48 of the Companies Act, 2013 |
Implications and Terms
The renewal of these preference shares signifies AI Champdany Industries' commitment to maintaining its current capital structure. The company has opted to keep all other terms of the shares unchanged, suggesting a continuation of its existing financial strategy.
Company Background
AI Champdany Industries Limited, with its registered office at 25, Princep Street, Kolkata, is known for its production of blended fabrics and yarns. The company's decision to renew these preference shares may reflect its confidence in its long-term financial outlook and operational stability.
Regulatory Compliance
In line with regulatory requirements, AI Champdany Industries promptly informed the Bombay Stock Exchange about this development. This transparency aligns with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring that shareholders and potential investors are kept informed of significant corporate actions.
The renewal of these preference shares without altering other terms suggests that AI Champdany Industries is maintaining a consistent approach to its capital structure. As the textile industry continues to evolve, such financial decisions play a crucial role in the company's ability to navigate market challenges and opportunities.
Historical Stock Returns for AI Champdany Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.05% | +3.73% | -6.10% | +16.15% | -5.48% | +626.13% |
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