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 & First Call ....
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Eco Hotels and Resorts has filed its quarterly statement on the use of funds from a partly paid-up Right Issue allotted on September 26, 2025, which aimed to raise INR 1,957.27 Lakhs. Of this, the company has received INR 825.77 Lakhs so far (INR 489.32 Lakhs as application money and INR 336.45 Lakhs on the first call), and has utilized INR 822.68 Lakhs as of March 31, 2026. While the company officially reports no deviation, INR 187.35 Lakhs meant for advances to pre-identified properties was instead used for new/unidentified properties taken on lease, since the original plans were delayed. The audit committee and auditors have raised no comments on the filing.
For retail shareholders, this is a routine compliance disclosure confirming that the right issue money is being spent broadly as planned, though there is a meaningful shift (about INR 1.87 crore) from identified to new properties. No negative audit observations, but the deviation is worth tracking as it shows the company is actively pivoting its expansion strategy.