Board of Tayo Rolls approves allotment of 1.25 crore preference shares to Tata Steel

At meeting held on 19 April 2017

Tayo Rolls announced that the Board of Directors of the company at its meeting held on 19 April 2017 has approved the following -

To increase authorised capital from Rs 350 crore dividend into 1.50 crore equity shares of Rs 10 each and 3.35 crore redeemable preference shares of Rs 100 each to Rs 455 crore dividend into 1.50 crore equity shares of Rs 10 each and 4.40 redeemable preference shares of Rs 100 each by creation of Rs 1.05 crore redeemable preference shares of Rs 100 each.

To alter the MoA and AoA of the company.

To allot 1.25 crore non cumulative redeemable preference shares of Rs 100 each to Tata Steel on preferential basis.

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