NMS Resources Global Limited has announced the withdrawal of its application for in-principle approval for a preferential issue of convertible equity warrants worth Rs. 73.52 crore, marking a significant reversal in the company's capital raising plans.

Board Approves Withdrawal of Warrant Issue

The Board of Directors of NMS Resources Global, in its meeting held on December 22, 2025, approved the withdrawal of the application filed with BSE Limited for in-principle approval for the issue and allotment of 1,13,12,000 convertible equity warrants on a preferential basis.

Timeline of Events and Withdrawal Reasons

The preferential issue was initially approved by the Board of Directors on August 25, 2025, and subsequently received shareholder approval at the 39th Annual General Meeting held on September 29, 2025. The company had filed the application with BSE Limited on September 11, 2025, seeking in-principle approval under Regulation 28(1) of the SEBI (LODR) Regulations, 2015.

However, due to the prolonged pendency of in-principle approval, certain proposed investors expressed their inability to wait further and withdrew their commitment to invest. As a result, the company found itself unable to proceed with the preferential issue in its existing form.

Impact on Capital Structure Plans

The withdrawal represents a setback to NMS Resources Global's capital expansion plans. The company had previously announced an increase in authorized share capital from Rs. 5.50 crore to Rs. 14.50 crore to accommodate the warrant issue. The convertible equity warrants were designed with an 18-month tenure from allotment date and required 25% upfront payment with the remaining 75% payable upon exercise.

Regulatory Compliance

The company has submitted a formal withdrawal letter to BSE Limited and made this disclosure in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The withdrawal was communicated to both BSE Limited and Metropolitan Stock Exchange of India Limited on December 22, 2025.

The withdrawal of this significant fundraising initiative may require NMS Resources Global to explore alternative capital raising strategies to meet its growth and expansion objectives.

NMS Resources Global Limited has announced a significant change in its top leadership. The company's Board of Directors has accepted the resignation of Sugan Chaudhary from the position of Managing Director and appointed Dhananjai Gupta as his successor, effective immediately.

Resignation of Sugan Chaudhary

Mr. Sugan Chaudhary (DIN: 07239488) has stepped down from his role as Managing Director due to personal reasons. However, he will continue to serve as a Director on the company's board, maintaining his involvement in the company's governance.

Appointment of Dhananjai Gupta

The Board has appointed Mr. Dhananjai Gupta (DIN: 09313878) as the new Managing Director of NMS Resources Global Limited. His appointment is for a term of five consecutive years, subject to shareholder approval at the upcoming General Meeting.

Profile of the New Managing Director

Mr. Gupta brings a wealth of experience to his new role:

Board Meeting Details

The changes were approved during a Board meeting held on November 7, 2025, at the company's registered office in Delhi. The meeting began at 10:00 AM and concluded at 3:10 PM.

Regulatory Compliance

These changes have been reported in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed both the BSE Limited and the Metropolitan Stock Exchange of India Limited about these developments.

NMS Resources Global Limited, formerly known as NMS Global Limited, is taking this step as part of its ongoing commitment to strong corporate governance and strategic leadership. The appointment of Mr. Gupta, with his extensive experience in finance and business strategy, signals the company's focus on enhancing its financial and operational capabilities.