Mold-Tek Technologies Limited has informed the Exchange about General Updates
MOLDTECH · price
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Mold-Tek Technologies Limited has withdrawn its proposed preferential issue of 290,000 equity shares. The issue was approved by the Board on February 28, 2026 and shareholders at an EGM on March 30, 2026, with in-principal approval received from both NSE and BSE on April 16, 2026. The shares were to be issued at ₹164 per share (face value ₹2 + premium ₹162), which would have raised approximately ₹4.76 crore. However, the proposed allottee failed to transfer the share application money within the required timeline, prompting the Board to cancel the issue via a circular resolution dated May 1, 2026.
The failed capital raise means the company misses out on nearly ₹4.76 crore in potential proceeds. Shareholders are unaffected as the dilution will not occur, but the company loses the planned capital infusion.