Statement of Deviation and Variation of Funds
SINGERIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Singer India Ltd has filed a statement confirming no deviation or variation in the utilization of proceeds from a Preferential Issue. The company raised Rs. 4,48,55,173.02 (approximately Rs. 4.49 crore) on December 29, 2025, through a Postal Ballot route. The funds were earmarked for two purposes: expansion of the manufacturing facility including designing and development of tools and equipment for Sewing Machines (Rs. 436.55 lakhs), and Issue Expenses (Rs. 12.00 lakhs, with Rs. 10.97 lakhs utilized). The Audit Committee reviewed the utilization report for the quarter ended March 31, 2026, and confirmed funds were used as per the stated objects.
Positive signal for shareholders as it confirms proper utilization of capital raised without any deviations. This compliance filing assures investors that the preferential issue funds are being deployed as intended for manufacturing expansion.