Corporate Action6 Apr 2026, 06:41 pm
Spinaroo Commercial Ltd Withdraws Preferential Issue of 7,89,000 Equity Shares for Spino Poly Products Acquisition
AI Summary
Spinaroo Commercial Ltd has decided to withdraw the proposed issue and allotment of 7,89,000 (Seven Lakhs Eighty-Nine Thousand only) Equity Shares on a Preferential Basis for the acquisition of Spino Poly Products Private Limited. The decision comes after the Board of Directors' approval in their meeting on February 14, 2026, and the shareholders' approval in the Extraordinary General Meeting held on March 11, 2026. The company had previously received an 'In-principle Approval' for the proposed preferential issue.
Key Highlights
- Spinaroo Commercial Ltd withdraws the proposed issue and allotment of 7,89,000 Equity Shares on a Preferential Basis.
- The decision follows the Board of Directors' approval in their meeting on February 14, 2026.
- The shareholders had also approved the proposal in the Extraordinary General Meeting held on March 11, 2026.
- The proposed preferential issue was for the acquisition of Spino Poly Products Private Limited.
- The company had previously received 'In-principle Approval' for the proposed preferential issue.