Poojawestern Metaliks Limited has announced the withdrawal of its proposed rights issue worth ₹1622.72 lakhs, following a board decision on March 3, 2026. The company informed BSE Limited that the Board of Directors decided not to proceed with the Rights Issue of Equity Shares, effectively withdrawing the comprehensive equity offering that was approved just days earlier.

Rights Issue Withdrawal Decision

The withdrawal comes merely four days after the Rights Issue Committee meeting on February 27, 2026, where the company had approved detailed terms and conditions for the equity offering. The board's decision to abandon the rights issue represents a significant strategic shift from the previously announced fundraising plans.

Previously Approved Rights Issue Structure

Before the withdrawal, the Rights Issue Committee had approved the issuance of 81,13,600 partly paid-up equity shares with a face value of ₹10 each at an issue price of ₹20 per share, including a premium of ₹10 per share. The committee had established a rights entitlement ratio of 4:5, meaning eligible shareholders would have received four rights equity shares for every five existing equity shares held.

Planned Timeline Now Cancelled

The previously scheduled rights issue timeline, which included an opening date of March 17, 2026 and closing date of April 1, 2026, has been completely cancelled following the withdrawal decision. The last date for on-market renunciation of rights entitlements that was set for March 26, 2026 is no longer applicable.

Regulatory Compliance and Communication

The company has maintained regulatory compliance by promptly informing BSE Limited about the withdrawal decision under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Sunil Devram Panchmatiya, Chairman & Managing Director, ensuring proper corporate governance protocols were followed in communicating this significant development to stakeholders.

Poojawestern Metaliks Limited has announced its board's approval for a strategic overseas acquisition aimed at expanding the company's international footprint. The Board of Directors approved entering into a definitive agreement to acquire a majority stake in a Singapore-based entity during their meeting on February 19, 2026.

Acquisition Details

The proposed transaction involves acquiring up to 51% majority stake in Saffron Feathers Pte. Ltd., a company incorporated in Singapore. The following table outlines the key parameters of the proposed acquisition:

Strategic Rationale

The proposed acquisition forms part of Poojawestern Metaliks Limited's strategic objective to expand and strengthen its presence in overseas markets. The company is particularly focused on establishing a stronger foothold in Singapore and other international jurisdictions, positioning itself for enhanced global operations.

Regulatory and Compliance Framework

The transaction remains subject to several conditions precedent that must be satisfied before completion. These include:

• Execution of definitive agreements between the parties
• Completion of comprehensive due diligence procedures
• Receipt of necessary regulatory and statutory approvals, if required
• Fulfillment of customary conditions precedent
• Compliance with all applicable laws and regulations

Transaction Status and Future Disclosures

Poojawestern Metaliks Limited emphasized that the proposed transaction may or may not be consummated, depending upon the satisfaction of the aforementioned conditions and other relevant factors. The company has committed to making appropriate disclosures to the stock exchange as and when there are further material developments regarding this acquisition, in compliance with applicable provisions of the SEBI LODR Regulations.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders and regulatory compliance.