ImportantDisclosure of material issue
Team India Guaranty Limited has announced a board meeting on Wednesday. **Issue:** The company has deferred the preferential allotment of 22,48,270 equity shares to non-promoters.
Team India Guaranty LimitedTEAMGTY · Filed with the exchange
This is because only 62.14% of the required funds were received from the proposed allottees.
Consequently, the proposed acquisition of 4A Financial Technologies Private Limited is also on hold. **Possible Impact:** The deferral means no immediate change to the company's paid-up equity share capital.
The market will be watching to see if the company revisits this allotment proposal in the future. **Company's Response/Mitigation:** The company has officially deferred the allotment due to incomplete consideration.
They have indicated that the proposal may be revisited later.
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