Statement of Deviation(s) or variation(s) for the year ended March 31, 2025 under Regulation 32 of SEBI (LODR) Regulations, 2015
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Awaiting price reaction for this filing.
Roopshri Resorts has confirmed to BSE that there has been no deviation or variation in the use of funds raised through a preferential issue, as required under SEBI LODR regulations. The company had raised Rs. 7.26 crore in two tranches (October 2022 and March 2024) to fund business development requirements for its Hotel Alexander property in Matheran, Karjat. Of the Rs. 7.26 crore raised, only about Rs. 0.01 crore (approximately Rs. 1.05 lakh) has been utilised till March 31, 2025, with the unutilised balance parked in a fixed deposit with a scheduled commercial bank. The filing is a routine year-end compliance statement and notes that no monitoring agency was applicable.
This is a routine compliance disclosure rather than a material business event, so it is unlikely to move the stock. However, investors may note the very low utilisation of funds (around 0.1% of what was raised) over nearly 2.5 years, which could raise questions about the pace of expansion at Hotel Alexander.