In terms of Regulation 32 of SEBI (LODR), Regulations, 2015 We here by confirm that there is no of Deviation and Variation in utilisation of proceeds from the Object as stated in Offer ....
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Sparc Electrex has filed its quarterly compliance statement under SEBI's Regulation 32 for the quarter ended 31 March 2026. The company confirms there has been no deviation or variation in the use of proceeds from its Rights Issue. The original Rights Issue was conducted via a Letter of Offer dated 14 February 2023, with allotment of 1.46 crore partly paid-up equity shares at Rs. 19 each (face value Rs. 10, Rs. 2.50 paid up), raising about Rs. 27.87 crore in total. The notes detail how call money on the partly paid-up shares was collected in stages through several reminder-cum-forfeiture notices between June 2023 and March 2024. No monitoring agency was applicable, and the audit committee and auditors had no adverse comments.
This is a routine compliance disclosure confirming that the Rights Issue funds have been used exactly as originally promised to shareholders. There is no material impact on the stock price, but it reassures investors about fund governance.