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Zodiac Clothing's planned preferential issue of 13,44,086 equity shares at Rs. 111.60 each, valued at approximately Rs. 15.01 Cr, has failed. The issue, intended for promoters, could not be completed as a result of the sudden passing of Chairman Mr. Mohamed Anees Noorani, who was a proposed allottee. The Vice Chairman & MD, Mr. Salman Yusuf Noorani, also could not subscribe due to bereavement. Consequently, no shares were subscribed or allotted. This development impacts the company's capital raising efforts and signals a significant change in its leadership.