Statement on Deviation or Variation in utilization of funds raised under Regulation 32 of SEBI (LODR) Regulations, 2015 for the quarter ended 31st March, 2026
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Sobhagya Mercantile Limited has submitted a compliance filing confirming there is NO deviation or variation in the use of proceeds from a preferential issue of convertible warrants. The company raised Rs. 90.95 crore on 5th January 2026, which has been fully utilized as per the original objects - Rs. 78.53 crore towards investment in promoter group SPVs (HAM Road Projects) and Rs. 12.42 crore towards general corporate purposes and working capital. Both the Audit Committee and the Board of Directors reviewed and approved the utilization report at their meetings on 29th May 2026. The Statutory Auditors, Joshi & Shah, also issued a certificate confirming proper utilization of the proceeds.
This is a routine positive compliance filing indicating that fund utilization is on track as per the disclosed objects. Shareholders can be assured that the raised capital of approximately Rs. 91 crore is being deployed as planned without any deviations or unexplained variations.