Covertible Preference Share

Chirantana

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Hi everyone,
Please help me to understand the following features of convertible preference shares :
Is this type of share act in both way common as well preferance simuntanously? Operating benefit taker like common and fixed dividend like preferance.
How they allow investor to benefit from rise in the price of the common shares through the conversion option?
What is the meaning of issues will be offered in two tranches for x amount via ATM and Y amount via placement?
What is hybris tier 1 issue?
Thanks
 
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