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 a Reg. 32 compliance statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue, which closed on 14 February 2025 and raised Rs. 4,572.07 lakhs. The company has utilised Rs. 1,405.22 lakhs out of the total original allocation of Rs. 4,875.16 lakhs (about 29% deployed) as of 31 March 2025. Key deployments include Rs. 358 lakhs towards business expansion, Rs. 357.16 lakhs to pay off non-current liabilities, Rs. 315.52 lakhs for working capital, and Rs. 358.07 lakhs for general corporate purposes, while the Rs. 1,000 lakhs earmarked for acquisitions remains completely untouched. The unutilised funds are parked in an account with Axis Bank, and the Audit Committee has reviewed the statement with no adverse comments.
This is a routine compliance disclosure confirming funds are being used as originally stated, which is a neutral-to-mildly-positive signal for shareholders on governance. However, the low utilisation rate (~29%) and zero spending on the Rs. 10 crore acquisition objective may draw investor questions on deployment speed and growth plans.