Pursuant to Regulation 32 of SEBI (LODR) Regulation 2015 the proceeds of Right Issue till 30.06.2025 is being utilized as per object stated in offer document and the same is enclosed
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Awaiting price reaction for this filing.
Growington Ventures India Ltd has filed a quarterly compliance statement for the quarter ended 30 June 2025, confirming that the proceeds of its recent Rights Issue are being used in line with the objects stated in the offer document. The Rights Issue, opened on 23 June 2025, raised about Rs. 48.17 crore by issuing 48,16,61,820 equity shares of Re 1 each at Re 1 per share in a 3:1 ratio to existing shareholders. The funds were earmarked for three purposes: Augmenting Working Capital (Rs. 36.95 crore allocated), General Corporate Purposes (Rs. 10.47 crore allocated) and Issue-related Expenses (Rs. 7.5 lakh). As of 30 June 2025, only about Rs. 9.33 crore has been deployed so far. There is no deviation or variation in use of funds and no monitoring agency was appointed for the issue.
This is a routine regulatory filing rather than a price-moving event. The 'no deviation' confirmation is mildly reassuring for shareholders, as it shows management is sticking to the stated purpose for the freshly raised capital. Investors should note that most of the Rs. 48.17 crore is still unutilised and will be deployed over the coming quarters.