Artificial Electronics Intelligent Material Withdraws Rs 166 Crore Rights Issue

Board on 2 Nov 2026 withdrew proposed Rs 10 rights issue of up to Rs 166.02 Cr approved 17 Sep 2026, citing unfavourable market conditions and volatility; may reconsider later. Breaks recurring equity-funding sequence; withdrawal leaves working-capital funding plan unresolved while operations remain cash-negative with stretched receivables and funding-heavy balance sheet. Near-term dilution avoided but growth hinges on alternative funding; use of proceeds and timetable now void; watch cash conversion, borrowings and any fresh raise or reconsidered plan.