Clarification Regarding Disclosure dated 10th May 2025 on receipt of Order proposal from Chixin Technology co, Limited under Regulation 30 of SEBI(LODR) Regulations,2015
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Awaiting price reaction for this filing.
The company has clarified its earlier disclosure dated 10th May 2025 regarding receipt of an order proposal worth USD 7,500,000 (approximately INR 65 Crores) from Hong Kong-based Chixin Technology Co., Limited. The company now states that only an email expressing intent to place the order was received, and no physical or legally binding contract has been executed between the parties as of the date of this disclosure. The clarification was issued to ensure accurate and fair representation of the transaction status.
This clarification significantly weakens the original announcement — what was presented as an order receipt is essentially just an intent letter with no binding commitment. Retail investors should treat the INR 65 Crore order as non-binding until a formal contract is signed, which may temper any positive stock movement triggered by the initial disclosure.