Alka India Ltd Withdraws Proposed Preferential Issue of Equity Shares
Alka India Ltd has announced the withdrawal of its planned Preferential Issue of Equity Shares, following alternative considerations that necessitate a reassessment of the company's proposed fund-raising plans.The decision to withdraw the preferential allotment was made after shareholders had previously approved the issuance during an Annual General Meeting (AGM) held on Monday, March 23, 2026. At that meeting, shareholders approved the issue of equity shares to certain identified Promoter/Non-Promoter Group members through a combination of share swaps and the conversion of loans into equity.
The company confirmed that the details of the intended preferential issue involved a total of 23,66,37,112 Equity Shares.
The shares earmarked for the issue included:
| Category | Number of Shares |
|---|---|
| Conversion of Loan into Equity | 45,00,000 |
| Via Swap of Shares | 23,21,37,112 |
| Total | 23,66,37,112 |
The withdrawal of this preferential issue was declared to safeguard the interests of the shareholders. Alka India Ltd stated that, despite the cancellation of the planned fund-raising activity, the decision is expected to maintain the company's financial stability, operations, and growth prospects.
Stock Price Movement
Alka India Ltd shares settled at ₹20.87 today, capitalizing on a robust movement of 4.98% at the close of trade. Despite the strong finish, the stock remained completely flat throughout the day, locking into a single price point of ₹20.87.Source:
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