In this connection due to non-receipt of minimum subscription under regulation 86(2) of the SEBI (ICDR) Regulation, 2018, we would like to inform that the rights issue committee of the ....
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Onesource Industries and Ventures Ltd has decided to withdraw its rights issue of equity shares after failing to receive the minimum subscription required under SEBI regulations. The rights issue, which opened on April 30, 2025 and closed on May 29, 2025, aimed to raise around Rs. 48.89 crore by issuing 48.89 crore shares at Re. 1 each in a ratio of 159 shares for every 10 shares held. The Rights Issue Committee of the Board approved the withdrawal at a meeting held on May 30, 2025. The company is now in the process of instructing banks to unblock amounts that were blocked from investors' accounts for the issue.
This is negative news for shareholders as the planned capital raise has collapsed, suggesting weak investor appetite. The stock may face selling pressure due to the dilution plans being abandoned and lingering uncertainty around the company's fundraising strategy.