Statement of Deviation for quarter / year ended on 31.03.2025.
Price
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Awaiting price reaction for this filing.
Satyam Silk Mills has filed a compliance statement confirming that there has been no deviation or variation in the use of funds raised through its rights issue. The company had raised Rs. 1,11,62,500 (about Rs. 1.12 crore) on July 6, 2022, earmarked for incremental working capital, general corporate purposes, and issue expenses. The Audit Committee reviewed this at its meeting on May 26, 2025, and found everything in order. Any unutilised funds have been temporarily parked in money market mutual funds. No changes to the original objects or any shareholder approvals were needed.
This is a routine regulatory filing with no negative implications. The confirmation of zero deviation signals disciplined use of raised funds and good governance, which is mildly reassuring for shareholders but unlikely to move the stock price.