Statement on Deviation or Variation of funds under regulation 32 of the SEBI (LODR) Regulations, 2015.
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Fynx Capital Limited has submitted a quarterly compliance statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue for the quarter ended March 31, 2025. The company raised Rs. 16 crores (Rs. 1,600 lacs) through the Rights Issue on March 25, 2025. As of March 31, 2025, the entire amount remained unutilised by the company. The planned use of funds is to augment the capital base for NBFC operations (Rs. 1,193.20 lacs), general corporate purposes (Rs. 376.80 lacs), and issue-related expenses (Rs. 30 lacs). The Audit Committee reviewed the statement and had no comments.
This is a routine compliance filing, not a material event. Since the Rights Issue closed just 6 days before the quarter-end, zero utilisation is expected and not a cause for concern. Shareholders should watch upcoming quarters to see how the Rs. 16 crore is actually deployed.