CITICHEM India Limited has issued a formal response to BSE Limited regarding an inquiry into recent price movements of its securities. The Mumbai-based company addressed concerns raised by the exchange's surveillance department through an official communication dated April 14, 2026.

BSE Surveillance Inquiry Response

The company received a price movement clarification request from BSE's Surveillance Department on April 13, 2026, referenced as L/SURV/ONL/PV/APJ/2026-2027/3704. This inquiry sought clarification regarding significant movement in the price of CITICHEM India Limited's securities on the exchange.

Regulatory Compliance Confirmation

CITICHEM India Limited, through Managing Director Arif Esmail Merchant, confirmed comprehensive compliance with regulatory disclosure requirements. The company stated that all necessary disclosures have been made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations 2015.

Key compliance aspects highlighted include:

• All required disclosures made within stipulated timelines
• Price sensitive information disclosed to stock exchanges as required
• Operational and performance-related information shared appropriately
• No undisclosed events that could impact stock price behavior

Management Statement

The response emphasized that the company currently has no information or events requiring disclosure that may have a bearing on price or volume behavior in its securities. This statement provides clarity to market participants regarding the company's transparency in regulatory compliance.

Corporate Information

CITICHEM India Limited operates from its corporate office located at 512, Yogeshwar Premises, 5th Floor, 135 Kazi Sayed Street, Masjid Bunder (W), Mumbai. The company maintains regular communication channels with stakeholders through its official website and designated contact points for investor relations.

Citichem India Limited has officially withdrawn its proposed preferential issue of convertible warrants, marking the end of a fund-raising initiative that had received both board and shareholder approval. The company communicated this decision to BSE Limited on January 21, 2026, citing adverse market conditions and regulatory challenges as key factors.

Timeline of the Proposed Issue

The fund-raising proposal followed a structured approval process over several months. The Board of Directors initially approved the preferential issue of convertible warrants on November 14, 2025, subject to obtaining requisite approvals including in-principle approval from BSE Limited. Subsequently, shareholders provided their consent at an Extraordinary General Meeting held on December 15, 2025.

Reasons for Withdrawal

Citichem India Limited cited multiple factors contributing to the decision to abandon the preferential issue:

• Prevailing adverse market conditions
• Continued market volatility
• Failure to receive in-principle approval from BSE Limited
• Overall unfavorable environment for fund-raising activities

The company emphasized that the combination of these factors made it impractical to proceed with the proposed issue, despite having secured the necessary internal approvals from both the board and shareholders.

Impact Assessment

The withdrawal of the proposed preferential issue is expected to have minimal consequences for Citichem India Limited's operations. The company has explicitly stated that this decision will not have any material impact on its business operations or financial position. This suggests that the fund-raising initiative was not critical for immediate operational requirements or urgent capital needs.

Future Fund-Raising Considerations

While withdrawing the current proposal, Citichem India Limited has kept the door open for future capital-raising activities. The company indicated it may consider alternative fund-raising options at an appropriate time, subject to compliance with applicable laws and regulations. This approach demonstrates a pragmatic stance toward capital management, prioritizing timing and market conditions over immediate fund-raising pressures.

The withdrawal reflects broader market challenges faced by companies seeking to raise capital through preferential issues, particularly in volatile market conditions where regulatory approvals and investor sentiment play crucial roles in determining the success of such initiatives.