There is no deviation and the funds have been fully utilized For complete announcement please refer the attachment
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ritesh International Limited has confirmed that funds raised through a Preferential Issue on January 30, 2026, totaling Rs. 379.086 Lakhs, have been fully utilized with no deviation or variation from the stated purpose. The entire amount was deployed for reduction and repayment of credit facilities (Cash Credit Limits). Both the Audit Committee and the company's Statutory Auditor, Ashok Shashi & Co., have reviewed and confirmed the proper utilization of funds. This filing serves as the final statement of deviation for this preferential issue, indicating completion of the fund deployment process.
Positive signal for shareholders as it confirms the company deployed the raised capital exactly as promised, with proper oversight from auditors and audit committee. No concerns about fund diversion or misuse.