Disclosure under Regulation 32 of SEBI (LODR) Regulations, 2015- Statement of Deviation and Variation of funds raised through Preferential Allotment of Equity Share and Convertible Share warrants.
CEINSYS · price
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Awaiting price reaction for this filing.
Ceinsys Tech has filed a quarterly statement on the use of funds raised through a preferential issue of equity shares and convertible warrants in September 2024. The original issue size of Rs. 243.40 Cr was revised to Rs. 235.06 Cr after one allottee worth Rs. 8.34 Cr did not subscribe. The company has so far received Rs. 105.03 Cr in cash, of which only Rs. 0.011 Cr was used for working capital during the quarter ended September 30, 2025. The unutilized amount of Rs. 105 Cr is parked in term deposits and a separate bank account. Care Ratings Limited is acting as the Monitoring Agency, and the Audit Committee noted no deviation or variation in the stated objects of the issue.
Most of the raised capital remains unutilized and is sitting in fixed deposits, meaning growth plans like overseas acquisitions (Rs. 170.38 Cr earmarked) and India delivery center expansion (Rs. 48.68 Cr) have not yet kicked off. Shareholders should watch for announcements on deployment of these funds, as delay in using the money for the stated strategic purposes could weigh on the stock narrative.