The Board at its meeting held today considered and approved issuance of Non-Convertible Redeemable Preference Shares (Issue of NCRPS) to Tata Steel Limited on a private placement basis for an amount not exceeding to Rs. 250 crore in accordance with applicable laws and regulations consents and approvals (as required).
Further for the purpose of giving effect to the above proposals the Board also approved consequential changes to the Memorandum and Articles of Association of the Company.
The meeting of the Board commenced at 12:30 p.m. and concluded at 3:45 p.m.
This intimation is issued in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.
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