Cybertech Systems And Software Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
CYBERTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Cybertech Systems and Software has filed its quarterly Reg 32 statement confirming there is no deviation or variation in the use of proceeds from its December 2023 preferential equity issue. The company had raised Rs. 40.28 crore through the preferential allotment for business expansion, general corporate purposes, investments in subsidiaries, and potential acquisitions. A key detail is that the entire Rs. 40.28 crore remains unutilized more than a year after raising the funds and is currently parked in bank fixed deposits. The audit committee and auditors had no comments to make, and no monitoring agency was appointed for this issue.
For shareholders, this is a routine compliance filing with no negative flag on fund misuse, but the fact that the full Rs. 40.28 crore is still sitting in FDs over 15 months after being raised signals slow deployment toward the stated growth and acquisition plans. Investors may want to watch for upcoming announcements on subsidiary investments or acquisitions to confirm the capital is being put to productive use.