Statement for quarter ended March 31, 2025
Price
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Awaiting price reaction for this filing.
GTT Data Solutions Ltd has submitted a NIL deviation statement to BSE for its Rights Issue proceeds, confirming that the funds raised have been used in line with the originally disclosed objects. The company raised Rs. 4,982.10 lakhs through a Rights Issue allotted on March 3, 2025. Out of this, Rs. 2,433.65 lakhs (~49%) was utilized till March 31, 2025, while Rs. 2,548.45 lakhs remained unutilized. Promoters had advanced Rs. 1,188.12 lakhs as advance call money on partly paid-up equity shares. The statement was reviewed and approved by the Audit Committee on May 20, 2025. No monitoring agency was applicable for this issue.
This is a routine compliance filing confirming proper use of raised funds with no deviation, which is a positive governance signal. However, shareholders should note that over half of the raised amount is still unutilized, including Rs. 970 lakhs earmarked for acquiring additional stake in Itarium Technologies, which may indicate pending acquisitions or deployment plans.