Description

NSE notifies listing of 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) of TVS Motor Company Limited on the Capital Market segment effective March 10, 2026, pursuant to a Scheme of Arrangement.

Summary

NSE has notified the listing of 6% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) of TVS Motor Company Limited on the National Stock Exchange (Capital Market segment) effective March 10, 2026. The listing is pursuant to a Scheme of Arrangement, with the security trading under the symbol TVSMNCRPS in Series P1.

Key Points

  • Symbol: TVSMNCRPS, Series: P1
  • ISIN: INE494B04019
  • Face Value and Paid-up Value: Rs. 10 per share
  • Total number of securities: 1,900,348,456 (approx. 1.9 billion shares)
  • Distinctive Number Range: 1 to 1,900,348,456
  • Market Lot: 1
  • Date of Allotment: September 01, 2025
  • Pari Passu: No; Lock-in: NA
  • Instrument type: 6% Cumulative Non-Convertible Redeemable Preference Shares (Unsecured)
  • Listed on both BSE and NSE; NSE is the Designated Stock Exchange

Regulatory Changes

Pursuant to Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, the securities are admitted for dealings with specified lot sizes as per the Annexure.

Compliance Requirements

  • All NSE members are informed of the new security and its trading codes.
  • Trading in TVSMNCRPS must use only the designated codes and lot sizes as specified.
  • The circular is effective from March 10, 2026.

Important Dates

  • Record Date for eligible shareholders: August 25, 2025
  • Date of Allotment: September 01, 2025
  • Listing effective date on NSE: March 10, 2026
  • Circular date: March 05, 2026

Impact Assessment

Existing TVS Motor Company equity shareholders as of August 25, 2025 are the eligible allottees of these NCRPS. With approximately 1.9 billion preference shares being listed, liquidity in this instrument will depend on market interest. The NCRPS are unsecured and rank senior to equity but subordinate to all creditors; they carry a 6% cumulative dividend. Members and investors should note the new trading symbol TVSMNCRPS and ensure familiarity with the series and lot size before trading commences on March 10, 2026.

Impact Justification

Listing of a large quantum of preference shares (1.9 billion) of a prominent company under a scheme of arrangement; relevant to existing TVS Motor equity shareholders who received NCRPS on the record date, but limited broader market impact.