Adroit Infotech Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Adroit Infotech has filed its quarterly Reg 32 statement confirming there is NO deviation or variation in the use of proceeds from its Rights Issue, which raised Rs. 4,572.07 lakhs in February 2025. Out of the total Rs. 4,875.16 lakhs allocated across six stated purposes, only Rs. 1,405.22 lakhs (about 29%) has been deployed so far. Spending went mainly towards business expansion (Rs. 358 lakh), repayment of non-current liabilities (Rs. 357.16 lakh), working capital (Rs. 315.52 lakh), and general corporate purposes (Rs. 358.07 lakh). No funds have been used yet for the planned acquisition in a similar or complementary business (Rs. 1,000 lakh allocated), and the unutilized amount is parked in an Axis Bank account. The Audit Committee and auditors reviewed the statement and had no comments.
This is a routine compliance filing with no negative news — the company is on track with its disclosed spending plan. Investors should note the slow pace of fund deployment (only ~29% utilized in over four months) and that the acquisition objective has not yet kicked off, which could delay value creation from that portion of the raise.