CITICHEM INDIA LIMITED has decided to withdraw its previously proposed preferential issue of convertible warrants, a fund-raising initiative.

This decision follows adverse market conditions, continued market volatility, and the absence of in-principle approval from BSE Limited.

The company's Board and shareholders had earlier approved this proposal.

Importantly, this withdrawal will not materially impact its business operations or financial position.

CITICHEM INDIA may explore alternative fund-raising options in the future, if necessary.