Oil Country Tubular Limited (OILCOUNTUB) — Board Meeting

📢 Key Event
Board approved conversion of 4,195,000 OCPS to equity shares and scheduled 40th AGM for August 12, 2026.

🔄 What Changed
Paid-up capital increased from 5,19,89,530 to 5,61,84,530 shares; promoter holding rose from 47.23% to 51.17%; 4,195,000 equity shares allotted at Rs. 65 per share.

💡 Investor Takeaway
The conversion dilutes existing shareholders but raises promoter stake and strengthens capital structure ahead of the AGM.

Oil Country Tubular Limited announced the outcome of its board meeting held on June 18, 2026, where it allotted 4,195,000 equity shares of Rs. 10 each upon conversion of zero-coupon optionally convertible non-cumulative preference shares to United Steel Allied Industries Private Limited, increasing paid-up capital from 5,19,89,530 to 5,61,84,530 shares and promoter holding from 47.23% to 51.17%. The board also approved the 40th Annual General Meeting scheduled for August 12, 2026, via video conferencing, and noted receipt of a SEBI show cause notice requiring a response.

📄 View Original Announcement (PDF)

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