Statement of Deviation for period ended 30.09.2025.
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Awaiting price reaction for this filing.
Satyam Silk Mills has filed its quarterly Statement of Deviation confirming there is no deviation or variation in the use of proceeds from its rights issue. The company had raised ₹1,11,62,500 (about ₹1.12 crore) through a rights issue on 6 July 2022, intended to part-finance incremental working capital needs. Issue expenses of ₹19,44,346 have been incurred. Pending full utilisation, the unutilised funds are temporarily parked in Money Market Mutual Funds. The Audit Committee reviewed and approved the statement at its meeting held on 13 November 2025. No monitoring agency was applicable for this issue.
This is a routine compliance filing with no negative implications — it simply confirms that the rights issue proceeds are being used as originally disclosed to shareholders. Investors should note that funds raised in July 2022 are still not fully deployed even after over three years, though they remain invested in liquid mutual funds for safekeeping.