JMJ FINTECH LIMITED has announced the postponement of its proposed preferential issue of up to 7,90,000 equity shares, aggregating to ₹1.58 crore. The decision, made during a board meeting on August 18, 2026, cites the need for further consideration and finalization of aspects related to the private placement. Consequently, the Annual General Meeting (AGM) has been rescheduled.
Preferential Issue Postponed
JMJ FINTECH LIMITED has decided to postpone its proposed preferential issue of equity shares. The board, in its meeting held on August 18, 2026, approved the withdrawal of the special resolution pertaining to the issue. The preferential issue involved up to 7,90,000 equity shares with an aggregate value of approximately ₹1.58 crore.
Reasons for Postponement
The company stated that certain aspects of the private placement require further consideration and finalization. Specifically, JMJ FINTECH plans to conduct a more thorough review and finalize particulars concerning the proposed identified subscribers and other issue-related matters. This step aims to ensure the transaction is conducted in an orderly manner and fully complies with regulatory requirements. The revised proposal will be presented to the Board at a future meeting.
Impact on Operations
The withdrawal of the proposed preferential issue is not expected to have any material adverse impact on the company’s operations or financial position.
AGM Rescheduled
In light of the withdrawal of the preferential issue, the Board has also approved a revised Notice for the 43rd Annual General Meeting (AGM). The AGM has been rescheduled to Tuesday, September 29, 2026, and will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM).
Source: BSE
