L&T Finance shareholders approve amendment to Memorandum of Association at AGM
L&T Finance shareholders approved an amendment to the Memorandum of Association at the AGM on May 29, 2026. This changes the authorized preference share capital structure to comply with SEBI's Master Circular, enabling future issuance of preference shares.
The amendment to the MoA regarding preference share capital is a procedural change to comply with regulations and facilitate future fundraising. It does not have an immediate material impact on the company's operations or financial standing.
The announcement is a routine corporate action related to amending the Memorandum of Association following a restructuring and to comply with regulatory guidelines. It does not inherently indicate a positive or negative change in the company's financial performance or outlook.
L&T Finance Limited (LTF) announced that its members have approved an amendment to the company's Memorandum of Association (MoA) at the Eighteenth Annual General Meeting (AGM) held on Friday, May 29, 2026.
This amendment primarily involves changes to the authorized preference share capital. Previously, the company had 50,12,00,000 preference shares of ₹100 each and 10,000 preference shares of ₹10,00,000 each. Following corporate restructuring, the MoA is being updated to align with the Master Circular for Issue and Listing of Non-Convertible Securities, which specifies minimum face values for preference shares.
The updated authorized preference share capital will consist of 5,01,200 preference shares of ₹1,00,000 each and 10,00,000 preference shares of ₹10,000 each. These changes enable the company to issue preference shares through public issues or private placements. The details of this amendment were previously communicated to members in the AGM notice dated April 24, 2026, and the amended MoA is available on the company's website.
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L&T Finance Limited filed this with the NSE as a statutory disclosure, categorised under agm. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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