Saptak Chem: No Deviation in Preferential Issue Fund Utilization

Saptak Chem And Business Ltd confirms no deviation or variation in the utilization of proceeds from its preferential issue of convertible warrants, as per Regulation 32 of SEBI guidelines. The funds, raised through the issuance of 40,00,000 convertible warrants at ₹10.50 each, were intended to meet working capital requirements and provide margin for Bank Guarantee. The company received ₹1,05,00,000, representing 25% of the consideration amount, and the Audit Committee has reviewed and confirmed the absence of any deviation.