AYM Syntex Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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AYM Syntex has reported to the stock exchanges that there is no deviation or variation in the use of funds raised through its preferential issue of equity shares completed on October 29, 2024. The company had raised Rs. 141.76 crore from this issue, and CARE Ratings Limited is acting as the monitoring agency. As of March 31, 2025, the company has utilized Rs. 70.01 crore (about 49%) of the funds. Of the original allocation, working capital repayment (Rs. 25 crore) and general corporate purposes (Rs. 33.76 crore) have been fully deployed, while capital expenditure of Rs. 11.25 crore has been used out of the Rs. 59 crore earmarked, and the Rs. 24 crore for debt repayment has not been utilized yet. The Audit Committee reviewed the statement and had no comments.
This is a routine compliance filing and shows that the company is using the preferential issue funds in line with what was disclosed to shareholders, with no misuse. Investors should note that nearly half the funds are yet to be deployed, particularly for capital expenditure and debt repayment, which will reflect in future quarters.