We hereby confirm that there is no deviation or variation in the use of proceeds, from the objects stated in the Letter of Offer for Rights Issue. A statement confirming that there is no ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NHC Foods has filed a compliance statement under SEBI Regulation 32 confirming that there is no deviation or variation in the use of funds raised through its Rights Issue (allotment date December 23, 2024, total Rs. 47.42 crores). The funds were raised for four stated purposes: working capital (Rs. 25 crores), repayment of secured loan (Rs. 15 crores), general corporate purposes (Rs. 7 crores), and issue expenses (Rs. 0.42 crores). As of March 31, 2025, Rs. 25 crores, Rs. 15 crores, and Rs. 0.42 crores have been fully utilised for their intended objects, while Rs. 5.17 crores has been deployed under general corporate purposes out of the Rs. 7 crores earmarked (balance pending deployment). The Audit Committee reviewed the statement and had no comments, and the auditors also had no observations. No monitoring agency was required for this issue.
This is a routine regulatory confirmation showing the company has used Rights Issue money as promised to shareholders. No fund diversion is positive for investor trust, though a small portion (about Rs. 1.83 crores) of the general corporate purposes allocation remains undeployed as of March 31, 2025. No material impact on the stock is expected from this disclosure.