Cybertech Systems And Software Limited has informed the Exchange about General Updates regarding Reg 32 Statement Of Deviation
CYBERTECH · price
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Cybertech Systems and Software Limited has filed a routine compliance statement confirming there is no deviation or variation in the use of proceeds from a Preferential Issue of Equity Shares. The company raised Rs. 40.27 crore (approximately Rs. 40.28 crore) in December 2023. As of May 6, 2026, the entire amount has been invested into the equity capital of its wholly owned US subsidiary, CyberTech Systems and Software Inc. Unutilized funds, pending actual deployment, are temporarily parked in Fixed Deposits with Banks. The intended use of funds includes expanding business activities, general corporate purposes, investment in subsidiaries, and financing future growth including acquisitions.
The confirmation of no deviation is a positive signal for shareholders, indicating proper fund utilization as disclosed. The investment in the US subsidiary aligns with the company's stated growth strategy, though the actual business impact will depend on how the subsidiary performs.