Rights Issue12 Aug 2026, 03:35 pm
Satyam Silk Mills: No Deviation in Rights Issue Fund Utilization
AI Summary
Satyam Silk Mills Ltd has filed a Statement of Deviation for the quarter ended June 30, 2026, confirming no deviation or variation in the use of proceeds from its rights issue. The funds, amounting to INR 1,11,62,500 raised on July 6, 2022, were intended for incremental working capital and general corporate purposes. Unutilized funds have been temporarily invested in Money Market Mutual Funds. The Audit Committee reviewed and approved the statement.
Key Highlights
- No deviation reported in the utilization of rights issue funds.
- Funds raised were INR 1,11,62,500 on July 6, 2022.
- Proceeds were for working capital and general corporate purposes.
- Unutilized funds are temporarily invested in Money Market Mutual Funds.
- Statement reviewed and approved by the Audit Committee.
Price Impact
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