TVS Holdings plans to redeem NCRPS on March 25

February 29, 2024 08:02 pm | Updated 08:02 pm IST - CHENNAI

TVS Holdings Ltd., formerly known as Sundaram-Clayton Ltd., announced that its 9% cumulative non-convertible redeemable preference shares (NCRPS) would mature on March 25 and would be deactivated from trading.

In this regard, March 13 had been fixed as record date for paying the full and final redemption amount of ₹10 per NCRPS and coupon payment at the rate of 9% per annum on the redemption value per NCRPS, the leading supplier of aluminium die-castings said in a regulatory filing.

Post the redemption, the NCRPS shall stand redeemed and extinguished on March 25. Further, it will be deactivated considering the record date.

Since March 25 happens to be a bank holiday, TVSH said it plans to pay the redemption amount and coupon payment on March 22.

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