Corporate Governance13 Nov 2026, 03:29 pm
7Seas Entertainment: Nil Deviation in Preferential Allotment Fund Use
AI Summary
7Seas Entertainment Ltd has confirmed no deviation or variation in the utilization of funds raised through a Preferential Allotment on February 25, 2026. The amount raised was ₹17,32,00,000. The statement, reviewed by the Audit Committee, covers the quarter ended September 30, 2026. Funds were utilized for meeting working capital requirements, investment in new projects, business opportunities, strategic ventures, and incurring capital expenditure for office premises, along with general corporate purposes, aligning with the original objects stated in the Letter of Offer.
Key Highlights
- No deviation in use of funds from Preferential Allotment.
- Funds raised: ₹17.32 Crore on Feb 25, 2026.
- Covers utilization for Q2 FY27 (ended Sep 30, 2026).
- Audit Committee reviewed and confirmed nil deviation.
- Utilization aligned with stated objects: working capital, investments, capex.
Price Impact
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