Corporate Action28 May 2026, 10:44 pm
UDAY JEWELLERY: No Deviation in Preferential Issue Fund Utilization
AI Summary
Uday Jewellery Industries Limited confirmed no deviation in the utilization of proceeds from its preferential issue for the quarter ended March 31, 2026. The company raised ₹29,45,25,000 out of a total target of ₹34,65,00,000. These funds are designated for working capital to enhance business operations. The statement, reviewed by the Audit Committee, confirms adherence to the objects stated in the Letter of Offer/Explanatory Statement for the Extra-Ordinary General Meeting dated September 23, 2024. A portion of the funds from warrants was received after the reporting quarter.
Key Highlights
- Confirmed no deviation in preferential issue fund utilization.
- ₹29.45 Cr raised out of ₹34.65 Cr target for preferential issue.
- Funds are allocated for working capital and business operations.
- Audit Committee and auditors reported no comments on deviation.
- Remaining warrant proceeds were received after the quarter end.
Price Impact
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