Yarn Syndicate: No Deviation in Right Issue Fund Utilization
Yarn Syndicate Ltd has filed a statement confirming no deviation or variation in the utilization of funds raised through its Rights Issue on January 25, 2024. The company raised ₹4684.50 Lakhs, and the funds have been fully utilized for their intended purposes, with minor amounts pending due to partly paid-up shares not yet converted. The filing addresses the requirement under Regulation 32 of SEBI (LODR) Regulations, 2015, and clarifies that no funds were raised in the current quarter ended June 30, 2026. The statement includes details of fund allocation, utilization, and confirms no deviation for the objects including acquisition of equity shares in Stitched Textiles Limited, incremental working capital, and general corporate purposes.
Key Highlights
- No deviation in utilization of Right Issue funds raised on Jan 25, 2024.
- Total funds raised were ₹4684.50 Lakhs.
- Funds utilized for acquisition, working capital, and general corporate purposes.
- Pending utilization due to partly paid-up shares conversion.
- Company confirms no funds raised in the current quarter.
Price Impact
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