Pursuant to Regulation 32(1) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 please find enclosed herewith the statement of deviation or variation, in respect ....
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Awaiting price reaction for this filing.
Shangar Decor has submitted a SEBI Regulation 32 compliance statement confirming that ₹49.35 crore raised through a Right Issue on 10 December 2024 has been used in line with the originally stated objects. Of this amount, ₹37.82 crore was allocated to additional working capital and fully utilised, ₹7.74 crore of the ₹11.29 crore earmarked for general corporate purposes has been deployed, and ₹25 lakh was spent on issue expenses. There is no deviation or variation in the use of funds. The remaining ₹3.55 crore (unutilised portion of the general corporate purpose allocation) is parked in short-term fixed deposits and bank balances, pending deployment. The Audit Committee reviewed the utilisation and the Board noted it at their meeting held on 27 May 2025.
A clean compliance filing with no fund diversion, which is mildly reassuring for shareholders. The unutilised ₹3.55 crore sitting in bank deposits means part of the capital is still to be deployed, but overall the disclosure is neutral to slightly positive for sentiment.