Narmada Macplast Withdraws ₹50 Crore Rights Issue For GSK Acquisition

Board on 17 Sep 2026 withdrew the proposed rights issue of equity shares approved on 27 Feb 2026. The issue stands withdrawn and will not proceed further. The issue was core to funding the GSK Industries manufacturing acquisition and shift from pure trader to integrated player; withdrawal stalls that transformation. Leaves firm as pure trader with working-capital strain; fate of GSK acquisition unclear; no reason, alternative funding or revised plan disclosed.