Submission of Statement of utilisation of funds
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sagarsoft (India) Ltd has filed a compliance report under SEBI LODR Regulation 32 regarding the utilisation of Rs. 5.08 crore raised through a preferential issue of 2,00,000 equity shares at Rs. 254 per share in July 2021. The company has deployed Rs. 1.18 crore for working capital requirements, while Rs. 3.90 crore remains invested in fixed deposits. There is no deviation or variation in the use of funds from the originally stated objects of 'further acquisition and general corporate purpose'. The Audit Committee and auditors have not raised any specific comments.
This is a routine compliance filing showing no fund misuse or deviation. The large portion of funds still parked in fixed deposits suggests cautious deployment, though this could indicate slower-than-expected progress on acquisition plans. No immediate impact on the stock is expected.