Tata Coffee to issue 62.34 lakh PCDs in 1:2 ratio
Tata Coffee Ltd on Thursday said it will issue 62.34 lakh Partly Convertible Debentures (PCDs) in the ratio of 1:2 to the shareholders.
By PTI |
MUMBAI: Tata Coffee Ltd on Thursday said it will issue 62.34 lakh Partly Convertible Debentures (PCDs) in the ratio of 1:2 to the shareholders.
The board of directors, at a meeting on Thursday, revised the terms and conditions of the rights issue approved earlier and said one PCD would be issued for every two existing equity shares held on a record date, the company informed the Bombay Stock Exchange.
Each PCD would have a face value of Rs 400, and would comprise of two parts, one convertible and the other would be non-convertible.
The part A of Rs 250 would be converted into one fully paid equity share of Rs 10 on allotment and Part B of Rs 150 would be non-convertible and would be redeemed in equal installments of Rs 50 each at the end of 4th, 5th and 6th years from the date of allotment, it added.
The company earlier decided to make a rights issue of equity shares in the ratio of two new equity shares of Rs 10 each for every five existing equity shares held within a price band of Rs 220 to Rs 260 per share (including premium).
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