Siyaram Silk Mills Limited has announced August 22, 2026, as the record date for determining eligible shareholders who will receive bonus preference shares under its previously approved Scheme of Arrangement. The company made the announcement after receiving the certified copy of the National Company Law Tribunal (NCLT) order sanctioning the scheme.
The company informed the stock exchanges that the scheme became effective from July 30, 2026, following receipt of the NCLT order.
August 22 Fixed as Record Date
Pursuant to the Companies Act, SEBI Listing Regulations, and the approved scheme, shareholders holding equity shares as of the record date of August 22, 2026, will be eligible to receive bonus preference shares.
The entitlement will be determined based on the names appearing in the company’s register of members or the records maintained by the depositories on the record date.
Bonus Preference Share Ratio
Under the scheme, the company will issue bonus preference shares by capitalizing its general reserves.
Eligible equity shareholders will receive:
Series I
- 4 bonus preference shares for every 1 equity share held.
- Face value: ₹10 per preference share
- 9% cumulative non-convertible redeemable preference shares
- Redeemable within 3 years from the date of allotment.
Series II
- 3 bonus preference shares for every 1 equity share held.
- Face value: ₹10 per preference share
- 9% cumulative non-convertible redeemable preference shares
- Redeemable within 5 years from the date of allotment.
Overall, eligible shareholders will receive 7 bonus preference shares for every one equity share held, split across the two redemption series.
Scheme Effective from July 30
The company stated that after receiving the certified copy of the NCLT Mumbai Bench order, the Scheme of Arrangement became effective on July 30, 2026. Siyaram Silk Mills added that it will undertake all remaining actions required to implement the scheme and will continue making necessary disclosures as the process progresses.
What This Means for Shareholders
Investors who hold Siyaram Silk Mills equity shares on August 22, 2026, will become eligible to receive the bonus preference shares under the approved scheme. The preference shares will carry a 9% cumulative dividend and will be redeemed by the company after 3 years (Series I) and 5 years (Series II), respectively.
Key Highlights
- Record Date: August 22, 2026
- Scheme Effective Date: July 30, 2026
- Bonus Entitlement: 7 preference shares for every 1 equity share
- Series I: 4 preference shares, redeemable within 3 years
- Series II: 3 preference shares, redeemable within 5 years
- Dividend Rate: 9% cumulative on both series
