Pratik Panels Limited has revoked the rights issue that was previously announced on May 7, 2026, due to unavoidable circumstances. The decision was taken by the Rights Issue Committee during its meeting held on July 15, 2026. This move follows a recommendation made by the Board of Directors earlier on the same day. The revocation impacts the capital raising plans that the company had initiated earlier this year.

The Rights Issue Committee convened on July 15, 2026, to deliberate on the matter. The committee decided to withdraw the offer based on the Board's recommendation. The specific reasons were categorized as unavoidable circumstances, though detailed financial or operational justifications were not disclosed in the filing. The Board meeting, which preceded the committee's decision, was held to review the strategic necessity of the proposed issue.

The rights issue was initially approved by the Board on May 7, 2026. The withdrawal means that the proposed issuance of equity shares to existing shareholders will not proceed. Shareholders who had anticipated participating in the issue will no longer be required to take any action regarding the subscription or payment for the shares.

The communication regarding this revocation was addressed to the Department of Corporate Service at the Bombay Stock Exchange Limited. The company requested the exchange to update its records accordingly. The filing was signed by Swapnil Sharad Shimpi, Whole-Time Director of Pratik Panels Limited, on July 15, 2026.

Pratik Panels Limited has further rescheduled the meeting of its Rights Issue Committee to July 15, 2026, to determine the key parameters for its proposed rights issue of equity shares. The committee will decide on the record date, issue price, and entitlement ratio, which are critical for shareholders to understand their participation and investment requirements. The proposed issue aims to raise funds not exceeding ₹40.25 Crores, a move that could bolster the company's capital base for future operations.

The meeting was originally scheduled for June 30, 2026, and was subsequently postponed to July 6, 2026, due to pending in-principle approval from the Stock Exchanges in connection with the proposed Rights Issue. The Board of Directors had initially approved the rights issue and constituted the separate committee in a previous meeting held on May 7, 2026. The upcoming committee meeting is a procedural step to operationalize the Board's approval, subject to receipt of necessary clearances.

Key Details of the Rights Issue

The following table summarizes the primary details regarding the upcoming rights issue and the committee meeting:

Regulatory and Procedural Requirements

The implementation of the rights issue is contingent upon receiving approvals from the stock exchanges and other relevant regulatory authorities. The company has referred to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in its communication to the Bombay Stock Exchange. This regulation mandates prior intimation to the exchange regarding such committee meetings.

The communication was addressed to the Department of Corporate Service at the Bombay Stock Exchange and was digitally signed by Swapnil Sharad Shimpi, Whole-Time Director of Pratik Panels Limited. The company has requested the exchange to take the submission on record.