This is a regulatory disclosure made to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company, La Tim Metal & Industries Limited, informs of its decision to withdraw a previously proposed preferential issue. The company had filed an In-Principle Application with the Exchange on October 24, 2025 for this issue.
The proposed issue consisted of:
- 3,50,00,000 Convertible Warrants of ₹10 each
- 1,58,60,000 Equity Shares of face value Re. 1 each
Both instruments were to be issued for a cash consideration at a price of ₹10 per instrument.
The primary reason cited for the withdrawal is that many of the proposed investors have expressed their unwillingness to participate. This unwillingness is attributed to the passage of substantial time in obtaining the In-Principle approval from the exchange.
Consequently, the Proposed Preferential Issue stands withdrawn. The company confirms it will not be proceeding with the issue and allotment of the equity shares and convertible warrants.
The company explicitly assures its stakeholders that this withdrawal will not have any material impact on its business operations or financial stability.
Looking forward, the company states it may explore alternative avenues for capital raising, which could include a fresh preferential issue of shares. It commits to keeping stakeholders informed of any such future developments.
The disclosure is signed by Rahul Maganlal Timbadia, Managing Director (DIN: 00691457).