issue of preference shares -listed co.

preferece shares that are non-convertible can be issued at any value. The guidelines issued by the erstwhile CCI are not binding at the moment. However, as a matter of good governance, the pricing shoud be based on prudent valuation.

preference shares would carry a fixed rate of dividend and a fixed redemption tenure and amount. Hence, the pricing and premium should be commensurate to the dividend rate and the redemption premium.