Regulation 32 of SEBI (LODR) Regulation, 2015 read with Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, we hereby confirm that no deviation or Variation in the use of proceeds ....
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PMC Fincorp Ltd has filed a compliance statement confirming that there is no deviation or variation in the use of proceeds from its Rights Issue. The company raised Rs. 4,895.56 Lakhs through the Rights Issue dated November 25, 2024, by allotting 17.80 crore equity shares at Rs. 2.75 per share. The entire amount has been utilised as per the original objects: Rs. 4,765.56 Lakhs for augmenting the capital base for NBFC operations, Rs. 100 Lakhs for general corporate purposes, and Rs. 30 Lakhs for Rights Issue related expenses. The Audit Committee reviewed the statement and noted nil deviation, with auditors also recording no comments.
This is a routine quarterly compliance filing with no negative implications for shareholders. It confirms the company used the Rights Issue funds exactly as promised to investors, which supports management credibility and governance transparency.