Spinaroo Commercial Ltd Withdraws Proposed Preferential Share Issue

Spinaroo Commercial Ltd Withdraws Proposed Preferential Share Issue​

Spinaroo Commercial Ltd announced the withdrawal of its proposed preferential issue of shares. The decision follows key board and shareholder approvals related to a share swap intended for the acquisition of Spino Poly Products Private Limited.

The company had previously detailed the plan for the issuance and allotment of 7,89,000 Equity Shares on a preferential basis, sourced through a shares swap for the acquisition of Spino Poly Products Private Limited. The Board of Directors initially approved this proposal on February 14, 2026, subject to receiving necessary approvals.

Shareholder approval for the proposed issue and allotment of 7,89,000 Equity Shares on a Preferential Basis was subsequently granted by the company at its Extraordinary General Meeting held on March 11, 2026.

The company previously submitted an application for in-principle approval to BSE Limited regarding this proposed preferential issue.

However, citing the events and approvals, the Board of Directors of Spinaroo Commercial Ltd has decided to withdraw the proposed issue and allotment of 7,89,000 Equity Shares on a Preferential Basis for the acquisition of Spino Poly Products Private Limited. Consequently, the Proposed Preferential Issue stands postponed.

Stock Price Movement​

At the close of trade today, Spinaroo Commercial Ltd settled at ₹56.99, marking a drop of 3.24% for the day. Throughout the session, shares fluctuated quite a bit, swinging between a low of ₹55.96 and a high of ₹58.65.

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