Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we hereby inform you about withdrawal of the proposed preferential issue and cancellation of EGM scheduled to be held on ....
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Sumedha Fiscal Services Ltd has decided to withdraw its proposed preferential issue of 4,00,000 equity shares and 2,50,000 convertible warrants, which had been approved by the Board on May 15, 2026. The Board cited volatile market conditions, fluctuations in the company's share price, and the proposed investor's unwillingness to proceed given the current market situation as reasons for the withdrawal. As a result, the Extra-Ordinary General Meeting (EGM) scheduled for June 11, 2026 has been cancelled. The remote e-voting process that was to run from June 8 to June 10, 2026 has also been withdrawn and will not take place. The company had already submitted applications for in-principle approval to BSE on May 19, 2026 and June 3, 2026 before deciding to pull the plug.
Shareholders will not receive any new equity shares or convertible warrants from this proposed issue, and the planned EGM vote on it will no longer happen. The withdrawal — especially due to investor unwillingness and weak share price action — may be viewed negatively as it suggests the company could not secure capital under acceptable terms in current market conditions.