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Awaiting price reaction for this filing.
The Board of Directors of Ashtasiddhi Industries Limited (formerly Gujarat Investa Ltd) has decided to withdraw and cancel its proposed preferential issue of up to 20 lakh warrants, each convertible into one equity share of face value Rs. 10. The proposal, originally approved by the Board on 13th February 2026, was meant to be issued to promoters, promoter group, and non-promoter investors. The Company has cited current market conditions and internal financial planning as the reasons for not proceeding with the issue at this stage. No capital will be raised through this route for now.
Shareholders can expect no equity dilution from this issue in the near term, but the withdrawal also means the company is not raising the planned capital. This may be viewed as a mildly negative signal as it suggests the company is holding off on fundraising, though it could preserve shareholder value if valuations were unfavorable.