Cybertech Systems And Software Limited has informed the Exchange about General Updates regarding utilization of funds raised through preferential allotment
CYBERTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cybertech Systems and Software has fully utilized Rs. 40.28 crore raised through a preferential allotment dated December 2023. The entire amount has been invested as equity capital into its wholly owned US subsidiary, CyberTech Systems and Software Inc., USA. The deployment aligns with the objects of the issue as approved by shareholders through a postal ballot in November 2023. This is a routine regulatory disclosure confirming fund deployment as per stated objectives.
The company has successfully deployed capital into its offshore subsidiary, which may indicate expansion of its US operations. This disclosure is procedural in nature and does not directly impact stock valuation in the near term, though it signals continued investment in international business growth.