Announced Wed, 15 Jul · 16:50 IST
National Oxygen withdraws proposed preferential share issue
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-4.0%1-day move
₹61.00
prior close
₹63.00
base price
After-mkt
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AI summary
National Oxygen's Board has withdrawn a proposed preferential issue of 9.5 lakh equity shares at Rs 93.80 each to promoter group entity Saraf Housing Development, worth about Rs 8.91 crore. The investor backed out due to a significant decline in the stock price since shareholder approval on May 28, 2026, making the issue price unviable. Company says no material impact on business; may revisit fund-raising later.
Likely market impact
Negative signal as planned promoter group capital raise failed due to stock price fall; no immediate financial impact but fund-raising is delayed.