Regulatory29 May 2026, 08:55 pm
Sobhagya Mercantile: No Deviation in Funds Utilization
AI Summary
Sobhagya Mercantile Ltd confirms no deviation or variation in the utilization of funds raised through the preferential issue of convertible warrants for the quarter ended March 31, 2026. The funds were raised on January 5, 2026, amounting to ₹90,95,49,765. The utilization aligns with the objects stated in the Extra-Ordinary General Meeting held on February 2, 2026. This confirmation was reviewed by the Audit Committee and taken on record by the Board on May 29, 2026. Statutory Auditors have also issued a certificate regarding the utilization of issue proceeds.
Key Highlights
- Sobhagya Mercantile confirms no deviation in fund utilization for Q4 2026.
- ₹90.95 Cr raised via preferential issue of convertible warrants.
- Funds utilized as per objects stated in Feb 2026 EGM.
- Audit Committee and Board reviewed and approved the fund utilization.
- Statutory Auditors certified the utilization of issue proceeds.
Price Impact
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