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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gabriel Pet Straps Limited has confirmed there is no deviation or variation in the use of proceeds from its public issue and preferential issue, as required under SEBI Listing Regulations. From the public issue of Rs. 8.06 crore (allotted Feb 2024), the company fully utilised funds for land acquisition (Rs. 1.98 crore) and general corporate purposes (Rs. 1.42 crore), and partially used Rs. 1.47 crore out of the Rs. 1.73 crore allocated for loan repayment. The Rs. 2.93 crore earmarked for setting up a Solar Power Plant remains completely unutilised as the project has not yet commenced. Separately, the entire Rs. 40.26 crore raised through a preferential issue (allotted Feb 2025, listing approval pending) has been fully deployed for working capital and general corporate purposes. The Audit Committee and auditors have raised no comments on the fund usage.
This is a routine compliance filing with no negative findings, so it should not move the stock. However, investors should note that the Rs. 2.93 crore meant for the Solar Power Plant remains entirely unspent over a year after the public issue, indicating a delay in that planned capex project.