Board Meeting5 Mar 2026, 12:37 pm
Sundaram Multi Pap Ltd Withdraws Proposed Preferential Issue of 7,04,00,000 Equity Shares
AI Summary
Sundaram Multi Pap Ltd announced the withdrawal of the proposed preferential issue of 7,04,00,000 equity shares at X3.35 per share. The decision came after Sundaram Land and Assets Private Limited (SLAPL) conveyed its intention not to proceed with the proposed share swap transaction. The Board of Directors took note of the communication from SLAPL and resolved not to proceed further with the proposed preferential issue, which was approved at the Extraordinary General Meeting of the Company held on November 12, 2025.
Key Highlights
- Sundaram Multi Pap Ltd withdraws proposed preferential issue of 7,04,00,000 equity shares.
- Withdrawal is due to Sundaram Land and Assets Private Limited not proceeding with the proposed share swap transaction.
- The proposed preferential issue was approved at the Extraordinary General Meeting of the Company held on November 12, 2025.
- The Board of Directors took note of the communication from Sundaram Land and Assets Private Limited.
- The proposed preferential issue stands withdrawn pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.