SEPC Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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SEPC Limited has filed a quarterly compliance report confirming there are no deviations or variations in the use of funds raised through its Rs. 350 crore Rights Issue (allotted on June 27, 2025). The issue was for partly paid-up equity shares issued at Rs. 10 per share (no premium) in a ratio of 11:50 to existing shareholders. Out of the Rs. 350 crore planned, the company has received gross proceeds of Rs. 323.45 crore so far, with Rs. 151.23 crore still lying unutilized in a Trust and Retention Account with Punjab National Bank. Key usage included Rs. 160 crore for working capital (fully deployed this quarter) and Rs. 6.11 crore for general corporate purposes (covering December 2025 salary arrears, interest, and vendor payments). Infomerics Valuation and Rating Limited, the Monitoring Agency, has confirmed full compliance with the stated objects of the issue.
This is a routine regulatory filing confirming that the company is using Rights Issue funds as disclosed. No negative news — the absence of deviations and orderly deployment of working capital funds should be viewed as positive for shareholder confidence. However, with over Rs. 151 crore still unutilized, investors may want to track the pace of deployment, especially toward the NCD redemption and NFB margin funding which have seen no usage in the latest quarter.