Intimation of withdrawal and cancellation of increase in authorised share capital and prefrential issue of shares
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Panth Infinity Ltd's board has withdrawn and cancelled two decisions taken on June 20, 2025: (1) an increase in authorised share capital from ₹37 crore to ₹132 crore, and (2) a proposed preferential issue of up to 5 crore equity shares of ₹10 each to raise funds. The company stated that the majority of the proposed allottees decided to pull back from investing, which forced the cancellation. The board also approved keeping the books of accounts at a new location in Ahmedabad, different from the registered office. A future board meeting will be held to consider alternative fund-raising plans.
This is a negative development for shareholders — the planned capital infusion has fallen through, meaning the company will not receive the funds it was counting on, though it also avoids any potential equity dilution from the cancelled preferential issue. Investors should watch for the company's next fund-raising proposal to gauge how it plans to meet its capital needs.