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The Board of Directors has announced a board meeting where they have approved the withdrawal of the proposed preferential issue of 11.76 crore convertible equity warrants. This decision follows the withdrawal of consent by key allottees due to delays in the offer, which influenced their financial and strategic priorities. Consequently, this cancellation is expected to impact the feasibility of the issue but should not affect the company’s financial stability or growth prospects. The meeting concluded with assurances of transparency to stakeholders regarding this development.