No deviation in rights issue fund use, audit committee approves
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Garment Mantra Lifestyle confirms no deviation in use of funds from its rights issue of partly paid equity shares. The company aimed to raise Rs. 46.98 crores but received Rs. 46.14 crores after forfeiting partly paid shares from non-payers. All three stated objects, working capital (Rs. 34 crores), general corporate purposes (Rs. 10.64 crores), and offer expenses (Rs. 1.5 crores), were fully utilized. Audit committee approved the statement for Q1 FY27.
No material impact. Routine compliance filing confirming funds used as originally planned; minor shortfall absorbed in general corporate purposes.