Intimation regarding outcome of Right issue committee meeting held today i.e. March 03, 2026 with regards to Right issue withdrawal.
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Poojawestern Metaliks Limited announced that the Board of Directors, at its Rights Issue Committee meeting held on March 3, 2026, has decided not to proceed with the proposed Rights Issue of Equity Shares. The Rights Issue, whose terms were communicated after a committee meeting on February 27, 2026, now stands fully withdrawn. No specific reasons for the withdrawal have been disclosed in this intimation. The communication has been addressed to BSE Limited under Regulation 30 of SEBI LODR.
Existing shareholders will not be offered the opportunity to subscribe to additional equity shares through this Rights Issue, which means no fresh capital will be raised via this route. The withdrawal removes any near-term dilution concerns but may also signal that the company's fundraising plans have changed or been delayed.