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Awaiting price reaction for this filing.
Interactive Financial Services Ltd filed a quarterly compliance statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue, which raised Rs. 1,150 lakhs between January 27 and February 5, 2025. As of June 30, 2025, the company has utilized Rs. 870.68 lakhs (about 76%) of the total funds raised, with Rs. 304.43 lakhs remaining unutilized. Funds earmarked for increasing networth (Rs. 595.50 lakhs) and general corporate purposes (Rs. 250 lakhs) have been fully deployed. The auditor noted that the advance given for setting up office space (original allocation Rs. 304.50 lakhs, only Rs. 14.50 lakhs utilized) is in the process of cancellation with the sub registrar, pending shareholder approval. Both the Audit Committee and Statutory Auditor (B.T. Vora & Co.) have reviewed and confirmed that funds were used for stated purposes.
This is a routine compliance filing with no negative deviation flagged, which is reassuring for shareholders. However, investors should note that the office space expansion plan is being scrapped and will require shareholder approval to formally cancel, which could modestly impact the company's near-term growth or capital allocation plans. The high utilization rate on networth and corporate purposes suggests the capital raise has been productively deployed.