Mafia Trends Limited Withdraws Proposed ₹7.29 Crore Convertible Warrant Issue Due to Market Volatility

Mafia trends Limited has officially withdrawn its proposed preferential issue of convertible equity warrants, citing unfavorable market conditions and declining investor interest. The Board of Directors made this strategic decision during their meeting held on January 29, 2026, effectively canceling the fundraising initiative that was originally approved in November 2025. Withdrawal Details The company has decided to withdraw and cancel the proposed preferential issue that involved significant financial commitments to non-promoter groups. Parameter: Details Warrant Quantity: 54,00,000 convertible equity warrants Issue Price: ₹13.50 per warrant Target Investors: Non Promoter Group Total Issue Value: ₹7.29 crore Original Approval Date: November 14, 2025 Withdrawal Date: January 29, 2026 Reasons for Withdrawal The Board cited specific market-related factors that influenced their decision to abandon the preferential allotment. The primary concerns centered around market volatility and its impact on investor sentiment. Following an evaluation of prevailing market conditions, the Board observed a notable decline in the market price of the company's equity shares, which subsequently led to reduced investor interest in the proposed preferential allotment. The company's assessment revealed that the current market environment was not conducive to successfully executing the warrant issue, prompting the Board to prioritize shareholder interests over immediate fundraising objectives. Impact Assessment and Future Plans Management has provided assurance regarding the company's operational continuity despite the withdrawal of this fundraising initiative. The company confirmed that the withdrawal of the proposed preferential allotment will not adversely impact its financial position, operations, or growth plans. This decision has been positioned as being in the best interest of both the company and its shareholders. Looking ahead, Mafia Trends Limited indicated its intention to explore alternative fund-raising options when market conditions become more favorable. This approach suggests the company remains committed to its growth objectives while maintaining flexibility in its capital-raising strategies. Board Meeting Details The decisive Board meeting was conducted on January 29, 2026, with specific timing details provided for regulatory compliance. Meeting Details: Information Meeting Date: January 29, 2026 Start Time: 04:00 P.M. End Time: 04:30 P.M. Signatory: Mahendra Singh, Whole-Time Director DIN: 07684132 The withdrawal notification was submitted to BSE Limited under Regulation 30 of Securities and Exchange Board of India (LODR) Regulations 2015, ensuring full regulatory compliance and transparency with stakeholders. Mafia Trends Limited , a company listed on the Indian stock exchange, has announced significant changes to its board of directors, effective November 28, 2025. The company has appointed a new independent director while simultaneously accepting the resignation of another, signaling a shift in its governance structure. Board Restructuring The company has made the following key changes to its board composition: Position Incoming Outgoing Additional Non-Executive Independent Director Dharmesh Mithabhiai Patel - Independent Director - Amit Rameshbhai Uttamchandani Details of the Appointment New Appointee: Dharmesh Mithabhiai Patel Position: Additional Non-Executive Independent Director Term: 5 years Effective Date: November 28, 2025 Subject to: Shareholder approval Mr. Patel brings a wealth of experience to the board. He is a Commerce Graduate from Gujarat University, Ahmedabad, and has been working as a Tax Consultant for the past 9 years. His expertise in taxation matters is expected to add value to the company's financial governance. Resignation Details Resigning Director: Amit Rameshbhai Uttamchandani Position Vacated: Independent Director Effective Date: November 28, 2025 Reason for Resignation: Unavoidable reasons and professional commitments Mr. Uttamchandani's departure will impact the company's board committees, as he was serving on multiple committees in another listed entity, Power and Instrumentation (Gujarat) Limited. Impact on Company Structure These changes are likely to affect the company's board dynamics and committee structures. The company has stated that certain board committees will be reconstituted following these changes. Financial Context While the board changes are significant, it's worth noting the company's financial position as of the most recent balance sheet data: Financial Metric Value (in ₹ crore) Year-on-Year Change Total Assets 15.40 3.36% Shareholders' Capital 7.90 3.95% Current Assets 15.30 4.08% Current Liabilities 7.50 2.74% The company shows modest growth in its asset base and shareholder capital, which provides a stable backdrop for these governance changes. As Mafia Trends Limited navigates this transition in its board composition, stakeholders will be watching closely to see how these changes might influence the company's strategic direction and governance practices in the coming years. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. 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