Andrew Yule & Company Limited has informed the exchange about withdrawal of proposed offer for sale of equity shares of Veedol Corporation Limited.
VEEDOL · price
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Andrew Yule & Company Limited, the promoter of Veedol Corporation Limited, has withdrawn its proposed Offer for Sale of equity shares through the stock exchange mechanism. The original OFS notice was dated May 22, 2025, and the withdrawal was communicated on May 23, 2025. The reason cited is 'unavoidable circumstances' along with technical glitches that prevented the shares from being transferred to NSE Clearing Corporation Ltd. The OFS stands withdrawn until further notice. No revised timeline or pricing details have been provided in this announcement.
The immediate OFS is cancelled, which removes near-term share supply overhang from the market. However, since the promoter is a government enterprise and the OFS is expected to be re-attempted later, investors should expect this supply event to resurface, which could weigh on the stock once relaunched.