Mizzen Ventures Limited disclosed the outcome of its Board of Directors meeting held on Friday, 17th July 2026, pursuant to Regulation 30 of the SEBI Listing Regulations.
The Board approved the withdrawal of a previously proposed preferential issue of equity shares. The specific details of the withdrawn issue were:
- Number of shares: 8,00,000 (Eight Lakh) Equity Shares
- Face value: ₹10 per share
- Issue price: ₹125 per equity share
- Total issue size: ₹10,00,00,000 (Rupees Ten Crore)
- Allottee category: Non-Promoter Public Category
- Previous approval: Approved by the Preferential Issue Committee on 18th June, 2026
The withdrawal decision was attributed to "unavoidable circumstances," with the Board deeming it prudent to discontinue the proposal at this stage. The company indicated it may revisit the fundraising plan at an appropriate time in the future.
The Board noted that the shareholder resolutions previously passed for increasing authorized share capital and the preferential issuance will stand cancelled. The company will seek ratification of this cancellation from members at the ensuing general meeting.
The board meeting duration was from 4:00 PM to 4:45 PM on 17th July 2026.
The disclosure was signed by Sandeep Reginald Dsilva, Managing Director & Chief Financial Officer (DIN: 09040813), and submitted to BSE Limited.