Intimation for Withdrawal of proposed preferential issue.
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Awaiting price reaction for this filing.
The Board of Evoq Remedies has decided to withdraw two preferential share issue proposals that were originally approved on 29th April 2025. The first proposal involved issuing up to 63.36 lakh equity shares to acquire a 71.95% stake in Poshan Nutriwell Private Limited, and the second involved issuing up to 1 crore equity shares to acquire a 50.36% stake in Spazio Formulations Limited. Both issuances were planned as share swaps (consideration other than cash). The Board cited a change in market conditions and a strategic realignment as the reasons for withdrawing these proposals. Consequently, neither acquisition will proceed via this route.
Existing shareholders avoid potential equity dilution from these planned share issuances, which is mildly positive. However, the withdrawal also signals that the company's planned inorganic expansion through these two acquisitions is on hold, which may temper any near-term growth expectations tied to them.