received an email :
Siyaram Silk Mills Ltd. is issuing 9% Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) to its shareholders…
If you hold Siyaram Silk Mills shares as of the record date (August 22, 2026), you will receive:
- Series I (maturity: 3 years from issuance): 4 NCRPS for every 1 equity share held*
- Series II (maturity: 5 years from issuance): 3 NCRPS for every 1 equity share held*
In total, you will receive 7 fully paid-up NCRPS of face value ₹10 each for every equity share held. Both Series I and Series II carry a 9% per annum cumulative coupon.
The NCRPS will be credited to your demat account based on your entitlement and will show in your holdings once they are listed on the exchanges.
Can anyone please help me understand in layman terms what action i need to do. Do i need to apply for it like in case of buybacks in order to redeem it. Do i need to pay anything like in case of rights issue. Is any action required from my end ?