Regulatory1 Aug 2026, 06:30 pm
Saptak Chem Confirms No Deviation in Preferential Issue Fund Utilization
AI Summary
Saptak Chem And Business Ltd has confirmed that there is no deviation or variation in the utilization of proceeds from its preferential issue of 40,00,000 convertible warrants. The funds raised were intended for working capital requirements and margin for bank guarantees, and general corporate purposes. The company has received 25% of the consideration amount, aggregating to ₹1,05,00,000, and has utilized ₹1.57 Cr for the stated objectives. The Audit Committee has reviewed the statement and found no issues. This filing is in compliance with SEBI regulations regarding the utilization of funds from public and preferential issues.
Key Highlights
- No deviation reported in the utilization of funds from preferential issue.
- Funds raised were for working capital and general corporate purposes.
- ₹1.57 Cr utilized as per original objects.
- Audit Committee reviewed and found no discrepancies.
- Company complies with SEBI regulations on fund utilization.
Price Impact
More from SCBL