Statement of deviation or variation in the use of proceeds raised through Right issue
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Awaiting price reaction for this filing.
SGL Resources Limited has confirmed that there is no deviation or variation in the use of proceeds from its Rights Issue, filed under Regulation 32 of SEBI LODR Regulations for the quarter ended March 31, 2025. The company raised Rs. 4,942.35 Lakhs through the Rights Issue, with allotment made on December 24, 2024. The funds were allocated as follows: Rs. 1,500 Lakhs for loan repayment, Rs. 2,200 Lakhs for working capital (Rs. 1,950 Lakhs utilized till date), Rs. 1,202.21 Lakhs for other general purposes, and Rs. 40.14 Lakhs for issue-related expenses. The Audit Committee and auditors had no comments, and no monitoring agency was appointed for this issue.
This is a routine compliance filing confirming that the company has used Rights Issue proceeds in line with the originally disclosed objects, which is a positive compliance signal for shareholders. There is no negative news or change in fund usage that could impact the stock price.