Utilization of funds raised through preferential allotment is fully complete as of this date.
CYBERTECH · price
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CyberTech Systems and Software Ltd has completed utilization of Rs. 40.28 crore raised through preferential allotment dated December 04, 2023. The entire amount has been invested into the equity capital of its wholly owned US subsidiary, CyberTech Systems and Software Inc. The fund deployment was in line with the objects of the issue as approved by shareholders through a postal ballot in November 2023. The company has filed this intimation under SEBI LODR Regulation 30.
The full utilization of funds as stated in the issue objectives is a routine compliance update with no immediate impact on the stock. The investment into the US subsidiary may support future revenue growth from overseas operations.