Softtech Engineers Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SOFTTECH · price
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SoftTech Engineers Limited has filed a quarterly statement of deviation/variation under SEBI Listing Regulations for the quarter ended March 31, 2025, covering two preferential issues. The first issue, dated October 5, 2022, raised Rs. 33.29 crore, of which Rs. 30.64 crore has been utilized so far — Rs. 21.97 crore for expanding business in Indian and overseas markets and Rs. 8.66 crore for general corporate purposes. The second issue, dated December 23, 2024, raised Rs. 40.01 crore, of which only Rs. 4.81 crore has been utilized toward financing business plan, expansion, and growth initiatives. The company has confirmed there is no deviation or variation in the use of proceeds for either issue. The Audit Committee reviewed and noted both statements at its meeting on May 26, 2025.
This is a routine compliance filing with no negative implications — the company has used raised funds in line with stated objectives, reflecting good governance and capital discipline. Investors may note the slower utilization of the December 2024 issue (only ~12% deployed in one quarter), but this is expected for a recently raised fund earmarked for growth initiatives.