Sadhana Nitrochem Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SADHNANIQ · price
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Sadhana Nitrochem Limited has filed a quarterly statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue conducted on October 11, 2024, which raised Rs. 49.91 Crores. The funds were raised for financing the acquisition of a 126-acre plot of land along with issue-related expenses. During the quarter ended June 30, 2025, the company utilized Rs. 22.17 Crores, with no modifications to the original objects. The statement was reviewed by the Audit Committee, which had no comments, and no monitoring agency was applicable for this issue.
This is a routine positive compliance filing showing the company is using Rights Issue funds as originally disclosed to shareholders. Investors may note that roughly Rs. 22 Crores (about 44% of the total) was deployed in the quarter, suggesting progress but still pending full utilization of the Rs. 49.91 Crore land acquisition plan.