Som Distilleries nixes QIP issue

BL Chennai Bureau Updated - October 09, 2023 at 09:05 AM.

The Fund Raising Committee meeting scheduled for October 10, 2023, has been cancelled, and the company will assess the possibility of raising funds at a later time

In a notice to the exchanges, Som Distilleries said it had shelved its QIP plans.

About our intimation letter of October 5, 2023, we inform you that the Fund Raising Committee meeting scheduled on October 10, 2023, stands cancelled. Further, the Committee has, at its meeting held today, i.e. October 9, 2023, among other things, resolved that it is not going ahead with the proposed QIP issue due to fewer bids received towards the proposed QIP Issue. The notice added the Company shall evaluate the viability of a funds raise at a suitable time.

Published on October 9, 2023 03:34
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