Industrial Investment Trust Limited — Board Meeting, 06-12-2024: Outcome of Board Meeting

The Board of Directors has approved several key decisions. They consented to the variation of terms for 70,00,000 Zero percent Non-Convertible Redeemable Preference Shares issued by IITL Projects Limited, subject to postal ballot approval, extending the redemption period to March 31, 2026, and reducing the redemption price. The board discussed a fine of ₹0.38 crore levied by the stock exchanges and approved the incorporation of a new subsidiary focused on the housing finance industry, with an estimated investment of ₹50 crore. Additionally, related party transactions were approved for experts in compliance with corporate regulations.