Statement of Deviation or Variation in the use of proceeds of Right Issue of Equity Shares.
Price
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Awaiting price reaction for this filing.
Interactive Financial Services raised Rs. 1,175.11 lakhs through a Rights Issue in January-February 2025. For the quarter ended December 31, 2025, the company reported a deviation: Rs. 304.50 lakhs originally earmarked for 'Setting up of Office Space' was reallocated to 'Increase in Networth of the Company' after shareholders approved the change at an EGM on September 25, 2025. The planned property purchase (3rd Eye Vision project) was cancelled, with the sale agreement scrapped before this filing. So far, Rs. 1,160.68 lakhs has been utilized — Rs. 900 lakhs towards net worth increase, Rs. 250 lakhs for general corporate purposes, and Rs. 10.68 lakhs for issue expenses. A small balance of Rs. 14.43 lakhs remains unutilized from the issue expense head. The Audit Committee reviewed the deviation and statutory auditor B.T. Vora & Co. certified the utilization.
This is a routine regulatory disclosure confirming a previously shareholder-approved change in fund usage. It reflects a pivot from a real-estate expansion plan to balance sheet strengthening, with no fresh capital action. Short-term share price impact is likely neutral.