Sungarner Energies Limited — Important, 18-04-2025: General Updates

Sungarner Energies Limited has withdrawn its proposed preferential issue of 9,36,800 equity shares and 11,67,200 convertible equity share warrants. The decision, made by the Board of Directors, comes in light of recent market volatility and a significant decline in share prices, which has led to reduced investor interest and caution. The company assures stakeholders that this withdrawal will not affect its financial stability, operations, or growth prospects. Looking ahead, the management is open to exploring alternative avenues for capital raising when market conditions improve, prioritizing the best interests of shareholders.