Mega Nirman Withdraws Rights Issue Application and DLOF

Mega Nirman and Industries Ltd has announced the withdrawal of its application and Draft Letter of Offer (DLOF) for a proposed Rights Issue of Equity Shares. The decision stems from a need to review and reconsider the objects and utilization of the issue proceeds, as well as the overall structure and terms of the proposed offering. The company stated that the Board of Directors may, in due course, re-evaluate these aspects and make a fresh decision regarding a Rights Issue, potentially with modifications, subject to applicable laws and regulatory approvals. Further disclosures will be made as decisions are taken.