Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company, at its meeting ....
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The Board of Directors of Evoq Remedies Limited, at its meeting on 21st August 2025, decided to withdraw two preferential issue proposals originally approved on 29th April 2025. The first proposal involved issuing up to 63,36,000 equity shares through a share swap to acquire 71.95% stake in Poshan Nutriwell Private Limited, while the second involved issuing up to 1,00,00,000 equity shares to acquire 50.36% stake in Spazio Formulations Limited. The Board cited a change in market conditions and strategic realignment as the reason for withdrawal. Both proposed acquisitions will not proceed further, and the preferential issues stand cancelled.
Existing shareholders avoid a potential equity dilution, but investors who were betting on these acquisitions for growth expansion may see this as a negative development. The stock could face short-term pressure due to abandoned inorganic growth plans, though the move preserves cash and may prevent value-destructive deals at unfavourable valuations.