NDA Securities Limited has formally withdrawn its previously approved preferential issue of 1,70,00,000 (1.7 crore) equity shares. The withdrawal was approved by the Board of Directors through a circular resolution.
The preferential issue was originally approved through multiple stages:
- Board meeting held on February 18, 2026 initially approved the issuance
- Subsequent Board approval was granted on March 06, 2026
- Shareholders approved the issuance at an Extra Ordinary General Meeting held on March 16, 2026
- The company had applied for in-principle approval from BSE Limited under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
The issue price was set at Rs. 37 per share. The shares were intended for allocation to both promoter and non-promoter categories.
The withdrawal is attributed to "reasons beyond control" without further specification. The company has requested BSE Limited to disseminate this information to stakeholders.
The disclosure is made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication is signed by Kajal Goel, Managing Director (DIN: 10634514).
Financial Impact
Financial impact of the withdrawal is not quantified in the disclosure. The cancellation eliminates the potential capital infusion of approximately Rs. 62.9 crore (1,70,00,000 shares × Rs. 37 per share) that would have resulted from the preferential issue.