Corporate Action29 May 2026, 04:12 pm
Spectrum Electrical Reports No Deviation in QIP Fund Use
AI Summary
Spectrum Electrical Industries Limited has submitted its Statement of Deviation(s) or Variation(s) under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter/year ended March 31, 2026. The company confirmed that there was no deviation or variation in the utilization of funds raised through a Qualified Institutional Placement (QIP) on January 15, 2024. A total of ₹3,654.59 Lakhs was raised, allocated for capital expenditure, working capital expenditure, general corporate purpose, and issue expenses. The Audit Committee reviewed the statement and had no comments, and the Auditor also reported NIL comments.
Key Highlights
- Spectrum Electrical submitted its deviation statement for QIP funds utilization.
- No deviation or variation was reported in the use of QIP proceeds.
- ₹3,654.59 Lakhs were raised via QIP on January 15, 2024.
- Funds were allocated for capital expenditure, working capital, general corporate purpose, and issue expenses.
- The Audit Committee reviewed the statement and had no comments.
Price Impact
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