Sundaram Multi Pap Limited has informed the Exchange regarding Outcome of Board Meeting held on March 05, 2026.
SUNDARAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sundaram Multi Pap's Board of Directors met on March 5, 2026, and decided to withdraw a previously approved preferential issue of 7.04 crore equity shares at ₹3.35 per share. The move came after Sundaram Land and Assets Private Limited (SLAPL), the proposed counterparty, communicated on February 27, 2026, that it no longer wished to proceed with the share swap transaction. The preferential issue had originally been approved by shareholders at an Extraordinary General Meeting held on November 12, 2025. With the Board formally taking note of SLAPL's communication, the entire preferential issue now stands withdrawn.
Existing shareholders avoid potential equity dilution of roughly 7.04 crore shares, which is a mild positive. However, the company also loses the capital infusion and asset swap it was counting on, which could limit near-term growth plans and may put short-term pressure on the stock.