GRP Limited has informed the Exchange regarding Board meeting held on Jun 20, 2025.
GRPLTD · price
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GRP Limited's board met on June 20, 2025 and approved two key items. First, the 51st Annual General Meeting is scheduled for July 25, 2025 at 12:30 PM via video conferencing. Second, the board noted that the proposed Rights Issue will not be undertaken, as the company failed to open the issue within the one-year timeline from receiving in-principle approvals from NSE (March 21, 2024) and BSE (May 6, 2024). Consequently, these in-principle approvals have lapsed and the fund-raising plan has been shelved.
The lapse of the proposed Rights Issue means GRP Limited is dropping a potential equity fundraising plan, which removes near-term dilution uncertainty for existing shareholders but also signals that the company did not pursue this capital raise. Investors should watch for any alternative fundraising route the company may explore before the AGM.