Cybertech Systems And Software Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Cybertech Systems and Software has filed a routine compliance statement confirming that there has been no deviation or variation in the use of proceeds from its preferential issue of equity shares done in December 2023. The company had raised Rs. 40.28 crore (Rs. 40,27,72,500) through this preferential issue, with the stated objective of expanding existing business, general corporate purposes, investment in subsidiaries, and financing future growth opportunities including potential acquisitions. As of June 30, 2025, the entire amount remains unutilized (Rs. 0 deployed towards the original object) and is temporarily parked in bank fixed deposits. The audit committee and statutory auditors have raised no comments, indicating a clean compliance report with no misuse of funds.
This is a routine, neutral compliance filing with no negative news for shareholders. However, investors may note that the Rs. 40.28 crore raised in late 2023 is still sitting idle in fixed deposits nearly 1.5 years later, suggesting either delayed deployment plans or a wait for the right acquisition or growth opportunity, which is a mild point of curiosity rather than a concern.