We hereby inform you that pursuant to Regulation 32 of SEBI (LODR) Regulations 2015, there is no deviation and/or variation in the utilization of issue proceeds, as mentioned in letter ....
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Awaiting price reaction for this filing.
Alan Scott Enterprises has confirmed to the BSE that there is no deviation or variation in the use of proceeds from its rights issue. The company had raised ₹726.34 lakhs (~₹7.26 crore) through a rights issue of 18,15,863 equity shares allotted on June 4, 2025. The funds were earmarked for acquiring additional equity stakes in five subsidiaries/group companies (Alan Scott Retail, Alan Scott Automation & Robotics, Alan Scott Envirotech, Alan Scott Upnup Life, and Meta Star Media), along with ₹25 lakhs for issue expenses and ₹51.34 lakhs for general corporate purposes. Notably, the company reports NIL utilization of any of the allocated funds during the quarter ended September 30, 2025. The Audit Committee reviewed and confirmed that funds are being used as disclosed in the Letter of Offer dated April 24, 2025.
Neutral to mildly negative for shareholders — while there is no misuse of funds, zero deployment of the ₹7.26 crore raised in June 2025 over a full quarter may raise questions about execution speed on the stated acquisition plans. Investors should watch the next quarterly update to see if the company begins deploying the raised capital into its subsidiary acquisitions.