Statement of Deviation or variation in the use of proceeds of Right issue for the quarter ended 31st March, 2025.
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Awaiting price reaction for this filing.
Genpharmasec Ltd filed a regulatory 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 had raised Rs. 4,845.05 Lakhs via the Rights Issue (allotment date: February 21, 2024). As of Q4 FY25, funds have been deployed across the original objects: Rs. 1,443.58 Lakhs fully used to acquire equity in Derren Healthcare Private Limited and make it a subsidiary; Rs. 286.00 Lakhs utilised against Rs. 588.00 Lakhs allocated for repayment of borrowings; Rs. 1,638.86 Lakhs for working capital; Rs. 1,019.80 Lakhs for general corporate purposes; and Rs. 25.00 Lakhs for issue expenses. The Audit Committee reviewed the statement and had no comments.
This is a routine compliance disclosure confirming that Rights Issue proceeds are being used as originally disclosed to shareholders, with no misuse or deviation. The subsidiary acquisition (Derren Healthcare) is fully completed, while borrowing repayment still has unutilised headroom (around Rs. 302 Lakhs unused). No negative signal for shareholders; overall neutral impact on the stock.