Senco Gold Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Senco Gold Limited has filed a quarterly statement confirming that there has been no deviation or variation in the use of funds raised through its Qualified Institutional Placement (QIP). The QIP was conducted on 13th December 2024, raising gross proceeds of Rs 4,590.00 million (net proceeds of Rs 4,434.20 million). The company has confirmed that the issue proceeds have been fully utilized in line with the objects stated in the Placement Document. The statement has been reviewed by the Audit Committee and approved by the Board of Directors, with ICRA Limited acting as the Monitoring Agency. Audit Committee and auditors had no further comments on the utilization.
This is a routine compliance filing confirming proper and full use of QIP funds as originally intended. It signals good governance and fund management discipline, with no negative implication for shareholders. The stock price is unlikely to be materially affected as the announcement is procedural in nature.