Regulatory14 Aug 2026, 08:13 pm
Suraj Estate Developers: No Deviation in Preferential Issue Fund Use
AI Summary
Suraj Estate Developers Ltd has reported no deviation in the utilization of funds raised through a Preferential Issue for the quarter ended June 30, 2026. The company raised ₹343.39 Cr on October 15-18, 2024. All allocated funds for land acquisition, working capital, and general corporate purposes have been utilized as per the original objects. The company confirmed that the utilization aligns with the objects stated in the explanatory statement for the General Meeting held on September 14, 2024. A note also clarifies the forfeiture of warrants amounting to ₹99.75 Cr.
Key Highlights
- No deviation reported in preferential issue fund utilization for Q2 FY27.
- Funds raised ₹343.39 Cr on Oct 15-18, 2024, for land, working capital, and corporate purposes.
- Actual utilization matches original allocation for key objectives.
- Warrants worth ₹99.75 Cr were forfeited.
- Confirmation aligns with SEBI (LODR) Regulations 2015.
Price Impact
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