TVS Holdings extends NCRPS redemption period after board meeting

TVS Holdings Limited announced an update to its bonus issue of Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) following a board of directors meeting on September 22, 2025. The company initially stated the NCRPS would be redeemed on the expiry of 12 months from the allotment date, but a subsequent update revised this to 15 months. However, the board retains discretion to redeem the NCRPS after 12 months.

The bonus issue involves 46 NCRPS of INR 10/- each, fully paid up, for every 1 equity share of INR 5 each. This will utilize approximately INR 986.52 crore from general reserves and retained earnings for capitalization. The NCRPS will be issued on the effective date, post-NCLT approval, with retained earnings and securities premium amounting to INR 1,456.26 crore as of March 31, 2025.

The NCRPS carry a coupon rate of 6% p.a., payable annually with the redemption amount. These shares are proposed to be listed on both the National Stock Exchange of India Limited and BSE Limited. The company’s share capital post-bonus issue will comprise INR 10,11,60,520 in equity and INR 930,67,67,840 in NCRPS, totaling INR 940,79,28,360.