Sobha Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32 of SEBI LODR Regulations, 2015.
SOBHA · price
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Sobha Limited filed its quarterly statement on the utilization of ₹1,999.03 crore raised through a Rights Issue completed on July 11, 2024. As of March 31, 2026, the company has utilized ₹1,777.74 crore (about 89% of the proceeds), leaving ₹221.28 crore unutilized. The funds were deployed across five objects: full repayment of ₹905 crore borrowings, ₹159.93 crore towards project-related expenses (vs. ₹212.36 crore allocated), ₹67.83 crore for equipment and machinery (vs. ₹210.03 crore allocated), ₹632.09 crore for land acquisition and corporate purposes (vs. ₹658.59 crore allocated), and ₹12.89 crore in issue expenses. No deviations or variations were reported in any category per se — the 'Nil' deviations indicate the company has discretion over deployment pace.
The large unutilized balance suggests Sobha has not yet fully deployed the rights issue proceeds into capex (equipment/machinery) and projects, which may reflect delays in land purchases or project execution. This is not inherently negative as long as the funds are deployed eventually, but shareholders should monitor deployment timelines.