Auroma Coke Ltd. (BSE:531336) announced private placement of 220,000 non-cumulative, redeemable preference shares at a price of INR 1,000 per share for gross proceeds of up to INR 220,000,000 on March 25, 2016. The preference shares will be issued at par. The preference shares shall be non-cumulative, non-participating, non-convertible, and carry a dividend of 7% per annum.

The tenure of the preference shares will not exceed seven years with or without a put / call option as may be determined by the board of directors. The transaction was approved at the extra-ordinary general meeting.