TRF’s board has approved allotment 1,30,00,000, 11.25% non-cumulative, optionally convertible, non-participating redeemable preference shares (OCRPS) of Rs 10 each, aggregating Rs 13 crore, under Series-2, (OCRPS-Series-2) to Tata Steel, on private placement basis, on terms and conditions as approved by the Board. The OCRPS will be unlisted. The Committee of Directors, as authorized by the Board of Directors (Board) at its meeting held on May 13, 2022 approved the same.
TRF has been engaged in the business of designing & manufacturing of the Bulk material handling systems and equipments for core sector industries such as power, ports, steel, mining and cement for projects undertaken on Turnkey basis.
