Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Eraaya Lifespaces has withdrawn its application to BSE seeking in-principle approval for a preferential issue of 28,60,412 equity shares (face value Re. 1 each) to non-promoter public category shareholders. The decision comes after the special resolution for the proposed preferential issue, voted on at an Extraordinary General Meeting on December 9, 2025, failed to secure the required majority under the Companies Act, 2013. The results of the EGM, declared on December 11, 2025, showed the resolution did not meet the requisite threshold, effectively killing the fundraising plan through this route.
The company's planned equity fundraising via preferential issue has fallen through due to lack of shareholder approval, which is a negative signal for its capital-raising plans. Existing shareholders should note that their vote against the proposal has blocked potential dilution but also means the company will need to explore alternative funding sources.