RMC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RMC Switchgears Ltd has filed a statement confirming no deviation or variation in the utilization of proceeds from a preferential issue. The company raised Rs. 15.01 Crores through private placement of 218,500 equity shares at Rs. 687 per share on December 6, 2024. The funds have been fully utilized as per the stated objects: Rs. 3.01 Crore for General Corporate Purposes and Rs. 12.00 Crore for investment in subsidiaries RMC Green Energy Private Limited and RMC Solar Park Private Limited. The statement was reviewed and noted by the Audit Committee and Board of Directors on May 29, 2026.
Positive signal for shareholders as the company has utilized the entire Rs. 15.01 Crore raised through preferential issue exactly as planned with zero deviation, indicating proper fund management and adherence to stated objectives.