Statement of Deviation for the quarter Ended 30.06.2025.
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Awaiting price reaction for this filing.
Satyam Silk Mills has filed a quarterly compliance statement confirming there has been no deviation or variation in the use of proceeds from its Rights Issue conducted on 6 July 2022, which raised Rs. 1,11,62,500 (~Rs. 1.12 crore). The original purpose of the funds was to part-finance incremental working capital requirements of the company, with issue expenses of Rs. 19,44,346 already accounted for. During the quarter ended 30 June 2025, no further amount was utilised, and the unutilised funds continue to be temporarily parked in money market mutual funds. The statement was reviewed by the Audit Committee at its meeting held on 12 August 2025.
This is a routine SEBI compliance filing and carries no negative signal — the company has confirmed funds are being used as originally disclosed. However, the fact that the entire Rights Issue proceeds remain unutilised even nearly three years after raising them may raise minor questions on the pace of working capital deployment.