Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nibe Ordnance and Maritime Limited filed a quarterly compliance statement confirming that there is no deviation or variation in the use of funds raised through its Rights Issue of equity shares allotted on February 4, 2025. The company raised Rs. 115.98 Lakhs in total. Of this, Rs. 13.68 Lakhs (allocated for issue expenses) has been fully utilized, while Rs. 48.71 Lakhs has been spent in the quarter out of the Rs. 102.30 Lakhs earmarked for setting up a new office to expand operations. An unutilized balance of Rs. 53.59 Lakhs remains parked in the company's current bank account as of March 31, 2025. The audit committee and auditors had no comments, indicating full compliance with the originally stated purpose of the fundraising.
This is a routine quarterly compliance disclosure with no negative implications for shareholders — there is no misuse or diversion of funds. Investors should note that nearly half of the raised amount is still unutilized, meaning the planned office expansion is work-in-progress and the remaining deployment could be tracked in upcoming quarters.