Intimation of withdrawal of Listing Application of proposed Preferential Issue of 4950000 warrants convertible into equity shares.
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GDL Leasing & Finance Ltd has withdrawn its proposed preferential issue of 49,50,000 warrants convertible into equity shares. The Board had proposed the issue on November 11, 2025, subject to shareholder approval via special resolution. At the EGM held on December 9, 2025, the special resolution for the preferential issue failed to receive the requisite majority of votes from shareholders. As a result, the proposal stands cancelled and the company will not proceed with the issue. The pending listing application with BSE for the warrants will also be withdrawn.
This is a negative development as the company's planned capital raising through the preferential warrant issue has fallen through due to shareholder rejection. Investors should note that the company will need to explore alternative funding options, and the failed vote may signal shareholder concerns about dilution or pricing terms.