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Awaiting price reaction for this filing.
Concord Control Systems has confirmed that the full amount of approximately Rs. 50.00 Crores raised through a Preferential Allotment (with shareholder approval dated September 30, 2024 and allotment on November 9, 2024) has been completely utilised as of March 31, 2025. The company has reported no deviation or variation in the use of these funds from the originally stated purpose. The Audit Committee has reviewed the statement of utilisation and confirmed that there has been no deviation and that all funds have been fully deployed. The filing was made under Regulation 32 of SEBI Listing Regulations, with Puja Gupta (Company Secretary) signing off from Lucknow on May 15, 2025.
This is a routine compliance disclosure confirming proper and complete use of the preferential issue proceeds, which is a positive governance signal for investors. No negative impact on shareholders; the transparency should support investor confidence in the company's fund management discipline.