Kalind Withdraws ₹99 Crore Preferential Issue Plans ₹500 Crore Fundraise

Board withdrew 8.61cr-share Rs99Cr preferential at Rs11.50 cleared at 29 Sep AGM as allottees declined; approved 100% cash buy of Kalind Gems for Rs1Cr, MOA fleet/diamond rewrite and Rs500Cr fundraise plan. Second scrapped preferential in six weeks with BSE in-principle pending; gems target is promoter-linked RPT opening diamond leg via MOA change, while fresh Rs500Cr plan extends serial equity cycle. Leaves planned capex and WC unfunded; Rs500Cr mode, price and timeline undisclosed pending shareholder and regulatory nods; gems close in 30 days after member approval.