Announced Mon, 6 Apr · 18:34 IST
Withdrawal of proposed preferential share issue for Spino Poly Products acquisition
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-2.2%1-day move
₹56.99
prior close
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base price
After-mkt
timing
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AI summary
Spinaroo Commercial Ltd's Board has withdrawn its proposed preferential issue of 7,89,000 equity shares, which were to be allotted via a share swap for acquiring Spino Poly Products Private Limited. The Board approved the issue on Feb 14, 2026, and shareholders approved it at an EGM on March 11, 2026. An in-principle approval application was filed with BSE on Feb 17, 2026. The Board has now postponed the acquisition, leading to the withdrawal of the preferential issue.
Likely market impact
Planned acquisition of Spino Poly Products is postponed; related share-swap allotment is withdrawn, delaying any potential growth from this deal.