Business Update26 May 2026, 05:41 pm
La Tim Metal Withdraws Preferential Issue Application
AI Summary
La Tim Metal & Industries Ltd has withdrawn its in-principle application for a proposed preferential issue of 35,000,000 convertible warrants and 15,860,000 equity shares, each priced at ₹10. The decision comes after several proposed investors expressed unwillingness due to delays in obtaining approval. The company assures stakeholders that the withdrawal will not materially impact business operations or financial stability and may explore alternative capital-raising avenues.
Key Highlights
- La Tim Metal withdraws application for preferential issue of warrants and equity shares.
- Investors cited delays in approval as reason for unwillingness to participate.
- The proposed issue included 35,000,000 warrants and 15,860,000 equity shares at ₹10 each.
- Company states withdrawal will not materially impact business or financial stability.
- La Tim Metal may explore alternative capital raising options in the future.
Price Impact
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