Revised nil statement of deviation or variation in the use of proceeds of Rights Issue
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Awaiting price reaction for this filing.
DMR Hydroengineering & Infrastructures Limited has filed a revised nil deviation statement for its Rights Issue proceeds with BSE. The company raised Rs. 2,65,56,000 (about Rs. 2.66 crore) through a Rights Issue on 09.12.2024. For the quarter ended 31.03.2025, the company confirms there is no deviation or variation in the use of funds. Of the original allocation, Rs. 2,05,04,000 was earmarked for working capital requirements and Rs. 60,52,000 for general corporate purposes. The full Rs. 60,52,000 for general corporate purposes has been utilised, while Rs. 1,93,04,000 has been used for working capital. The Audit Committee and auditors have no comments. The filing is a regulatory compliance submission under SEBI LODR Regulation 32.
This is a routine compliance filing with no negative signal for shareholders. It confirms that the company has used the Rights Issue proceeds in line with the stated objectives, with no misuse or diversion of funds, which is mildly reassuring for investors.