Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, we hereby inform you that the meeting of the Board of Directors held today i.e. Tuesday, ....
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7NR Retail Limited announced that its Board of Directors, in a meeting held on 22nd July 2025, approved the cancellation of the proposed Rights Issue. The Rights Issue was originally approved by the Board on 29th March 2025, with the intention of raising Rs. 2,800.68 Lakhs through the issuance of equity shares to existing shareholders. However, the company failed to receive the minimum subscription required under SEBI's ICDR Regulations, 2018, making it unable to proceed with the issue. As a result, the Rights Issue has been formally cancelled in compliance with applicable regulatory provisions.
This is a negative development for shareholders, as the company was unable to raise the planned Rs. 2,800.68 Lakhs in capital, which may affect its growth plans and financial flexibility. The cancellation reflects weak investor interest and could weigh negatively on the stock sentiment.