Statement of Deviation or Variation of the proceeds of Rights Issue for the quarter ended March 31, 2026.
HCG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
HealthCare Global Enterprises (HCG), a cancer care hospital chain, has filed a statement confirming no deviations or variations in the utilisation of proceeds from its Rights Issue. The company raised INR 424.68 crores through the rights issue on March 27, 2026. The funds were allocated as per the Letter of Offer dated February 24, 2026, with planned use for: repayment of borrowings (Rs 170 crore), acquisition of additional 34% stake in Vizag Hospital and Cancer Research Center Private Limited (Rs 154.04 crore), general corporate purposes (Rs 95.57 crore), and issue expenses (Rs 5.07 crore). The Audit Committee has reviewed and confirmed no deviations, with no comments from auditors.
Positive signal for shareholders as the company has utilized the Rs 424.68 crore rights issue proceeds exactly as stated in the offer document, with proper oversight from the Audit Committee.