Compliance- Statement of Deviation or Variation for proceeds of Rights Issue
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Awaiting price reaction for this filing.
NHC Foods Ltd has filed a compliance statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue. The company raised Rs. 47.42 crores through the Rights Issue, with allotment on December 23, 2024. All proceeds have been fully utilized as per the original objects: Rs. 25 crores for working capital requirements, Rs. 15 crores for repayment of secured loans, Rs. 7 crores for general corporate purposes, and Rs. 0.42 crores for issue-related expenses. The Audit Committee reviewed the statement and had no comments, and there are no adverse comments from auditors. The filing is for the quarter ended December 31, 2025, submitted under Regulation 32 of SEBI LODR Regulations.
This is a routine positive compliance disclosure showing the company has used its Rights Issue proceeds exactly as promised to shareholders, with no diversions. For investors, this signals good corporate governance and disciplined capital allocation, though it has no direct impact on stock price as it is a regulatory confirmation rather than new business news.