MITCON Consultancy & Engineering Services Limited has informed the Exchange about Utilisation of Funds
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MITCON Consultancy & Engineering Services has informed the exchange that it has fully utilized the proceeds from its issue of partly paid-up rights equity shares as of March 31, 2025. A chartered accountant certificate from J Singh & Associates confirms that no balance amount is pending for utilization. Because the funds have been completely deployed, the company is no longer required to submit quarterly utilization statements for the quarter ended June 30, 2025, under applicable SEBI rules. The certificate is dated 13th August 2025 and bears UDIN 25200369BMJJOY1549.
This is a routine compliance update with no material impact on the stock price. It confirms that the company used the rights issue money as planned, which is mildly positive for investor confidence, and removes the need for further quarterly fund-use disclosures.