Intimation regarding non implementation of Securities
GRPLTD · price
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GRP Limited informed stock exchanges that its proposed Rights Issue of equity shares will not be carried out. The company had received in-principle approvals from NSE in March 2024 and BSE in May 2024, but failed to open the issue within the mandatory one-year window. As a result, these approvals have lapsed, and the rights issue stands cancelled. The Board of Directors noted this development at a meeting held on 20th June 2025.
Shareholders will not receive any rights entitlement, and the company will not be raising equity capital through this route. This may be viewed negatively as the company has lost a potential fundraising opportunity, though it also means no dilution from this particular issue.