Rights Issue30 May 2026, 07:41 pm
Pulsar Int'l Rights Issue: ₹1.64 Cr Deviation in Fund Use
AI Summary
Pulsar International Ltd's monitoring agency report by CARE Ratings highlights a deviation in the utilization of funds raised through its Rights Issue. While there was no change in the overall objects, ₹1.64 crore was interchanged between incremental working capital and general corporate purposes. Actual utilization for incremental working capital was ₹14.99 crore, and for general corporate purposes, it was ₹7 crore. The company's board approved this interchange on January 26, 2026, stating it didn't require shareholder approval as it only involved reallocation of costs.
Key Highlights
- Pulsar International's Rights Issue fund utilization monitored by CARE Ratings.
- ₹1.64 crore interchanged between working capital and general corporate purposes.
- Board approved the reallocation, deeming shareholder approval unnecessary.
- No deviation from the original objects stated in the letter of offer.
- Monitoring Agency declares no conflict of interest.
Price Impact
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