Key Quantitative Figures
- Proposed issue size: 400,000 equity shares
- Proposed issue size: 250,000 convertible warrants
- Total proposed securities: 650,000 (shares + warrants)
Dates of Action
- Board approval for preferential issue: May 15, 2026
- Application submitted to BSE: May 19, 2026
- Additional documents submitted: June 3, 2026
- Original EGM date: June 11, 2026 at 11:30 AM
- Remote e-voting scheduled: June 8, 2026 (9:00 AM) to June 10, 2026 (5:00 PM)
- Withdrawal announcement date: June 6, 2026
Parties Involved
- Issuer: Sumedha Fiscal Services Ltd.
- Regulatory recipient: BSE Limited
- Proposed investors: Promoter group and non-promoter persons
- Company representative: Dhwani Fatehpuria, Company Secretary & Compliance Officer
Purpose and Rationale
The withdrawal decision was made due to:
- Prevailing volatile market conditions
- Fluctuations in the market price of the company's equity shares
- Intimation of unwillingness from the proposed investor to continue with the subscription
Consequences of Withdrawal
- The company will not proceed with the issue and allotment of equity shares and convertible warrants
- Extraordinary General Meeting (01/2026-27) scheduled for June 11, 2026 stands cancelled
- Remote e-voting process scheduled from June 8-10, 2026 is withdrawn
- The company will intimate all concerned stakeholders about the cancellation
Additional Information
The intimation has been uploaded on the company's website at https://www.sumedhafiscal.com/pref-issue/