We are submitting the statement of utilisation of funds
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Sagarsoft (India) Ltd has submitted a statement of utilization of funds raised through a preferential issue of 2,00,000 equity shares at Rs. 254 per share, conducted on 26 July 2021, for a total of Rs. 5.08 crore. The filing covers the quarter ended 31 March 2024 and confirms there is no deviation or variation in the use of funds. Of the amount raised, Rs. 1.18 crore has been used for working capital requirements, while the remaining Rs. 3.90 crore is held in fixed deposits. The audit committee and auditors had no specific comments on the utilization.
This is a routine regulatory compliance filing and is unlikely to have any material impact on the stock price or shareholder value. The funds remain largely unutilized (parked in fixed deposits), which may signal that planned acquisitions have not yet materialized.