Mafia trends Limited has officially withdrawn its proposed preferential issue of convertible equity warrants, citing unfavorable market conditions and declining investor interest. The Board of Directors made this strategic decision during their meeting held on January 29, 2026, effectively canceling the fundraising initiative that was originally approved in November 2025.

Withdrawal Details

The company has decided to withdraw and cancel the proposed preferential issue that involved significant financial commitments to non-promoter groups.

Reasons for Withdrawal

The Board cited specific market-related factors that influenced their decision to abandon the preferential allotment. The primary concerns centered around market volatility and its impact on investor sentiment. Following an evaluation of prevailing market conditions, the Board observed a notable decline in the market price of the company's equity shares, which subsequently led to reduced investor interest in the proposed preferential allotment.

The company's assessment revealed that the current market environment was not conducive to successfully executing the warrant issue, prompting the Board to prioritize shareholder interests over immediate fundraising objectives.

Impact Assessment and Future Plans

Management has provided assurance regarding the company's operational continuity despite the withdrawal of this fundraising initiative. The company confirmed that the withdrawal of the proposed preferential allotment will not adversely impact its financial position, operations, or growth plans. This decision has been positioned as being in the best interest of both the company and its shareholders.

Looking ahead, Mafia Trends Limited indicated its intention to explore alternative fund-raising options when market conditions become more favorable. This approach suggests the company remains committed to its growth objectives while maintaining flexibility in its capital-raising strategies.

Board Meeting Details

The decisive Board meeting was conducted on January 29, 2026, with specific timing details provided for regulatory compliance.

The withdrawal notification was submitted to BSE Limited under Regulation 30 of Securities and Exchange Board of India (LODR) Regulations 2015, ensuring full regulatory compliance and transparency with stakeholders.

Mafia Trends Limited has successfully obtained shareholder approval for its ₹7.29 crore convertible warrant issue at the Extraordinary General Meeting (EGM) held on December 13, 2025. The special resolution was passed with unanimous support, receiving 100% votes in favor from both promoter and public shareholders.

EGM Voting Results

The voting results demonstrate strong shareholder confidence in the company's capital raising initiative:

Approved Warrant Issue Details

The shareholders have approved the issuance of convertible warrants with the following specifications:

Shareholding Impact

If all warrants are converted into equity shares, the company's shareholding structure will undergo significant changes:

Fund Utilization

Mafia Trends intends to utilize the funds raised through this preferential allotment for funding expansion plans, meeting working capital requirements, and general corporate purposes.

Regulatory Compliance

The company has maintained full compliance with regulatory requirements, including Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer's report was prepared by Brajesh Gupta & Co., Company Secretaries, confirming the validity of the voting process.

The successful approval of this warrant issue positions Mafia Trends Limited to strengthen its financial foundation and pursue growth opportunities in the retail sector.