Guru Krupa Gems fails ₹9 Cr preferential issue to Krina Creation

Guru Krupa Gems and Jewellery Ltd announced that its Board of Directors noted the non-allotment of equity shares under a preferential issue. The proposed issue of 32,00,000 equity shares at ₹28.20 per share to Krina Creation Private Limited, valued at ₹9.02 crore, did not proceed. This was due to a delay in obtaining in-principle approval from BSE Limited, leading Krina Creation Private Limited to withdraw its investment and not remit the subscription amount. Consequently, no shares were allotted, and the company's paid-up share capital remains unchanged at ₹15.04 crore. The company indicated it may explore fresh fund-raising options in the future.