Statement of Deviation or Variation pursuant to Regulation 32 of SEBI (LODR) Regulations, 2015 - Utilization of funds raised through Partly paid-up Right Issue (Application Money) for the ....
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Eco Hotels and Resorts has submitted a quarterly statement confirming no deviation or variation in the use of funds raised through its partly paid-up rights issue allotted on September 26, 2025. The company raised INR 1,957.27 lakhs, of which INR 489.32 lakhs was received on application. As of December 31, 2025, utilization was modest: INR 60.68 lakhs used for advances to property owners for construction/renovation (against allocation of INR 974.20 lakhs), INR 29.10 lakhs for partial repayment of borrowings (against INR 460.00 lakhs), INR 282.24 lakhs for investment in properties, security deposits and general corporate purposes (against INR 473.07 lakhs), and INR 13.58 lakhs to meet issue expenses (against INR 50.00 lakhs). The audit committee raised no comments on the deployment.
This is a routine regulatory compliance filing confirming funds are being used as originally disclosed, with no deviation. For shareholders, the slow utilization rate (roughly INR 3.86 crore deployed out of nearly INR 19.57 crore raised) suggests capital deployment is still early, leaving significant unutilized funds for upcoming quarters.