In terms of Regulation 32 of SEBI (LODR) Regulations, 2015 we hereby confirm that there is no Deviation and Variation in the use of proceeds from the objects stated in the Letter of Offer ....
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Awaiting price reaction for this filing.
Sparc Electrex has filed a routine compliance statement confirming that there is no deviation or variation in the use of funds raised through its Rights Issue. The company had allotted 1.46 crore partly paid-up equity shares on 24 April 2023 at Rs. 19 per share (face value Rs. 10, premium Rs. 9) under its Letter of Offer dated 14 February 2023, raising a total of about Rs. 27.87 crore. The filing covers the quarter ended 30 September 2025 and confirms proceeds have been used strictly for the originally stated objects. A note attached explains the history of call money collection across four notices between June 2023 and March 2024, with the company recovering dues progressively through reminder-cum-forfeiture notices.
This is a routine, positive compliance filing that reassures shareholders the company is using Rights Issue funds as promised, with no misuse or diversion. No material price impact expected as this is a standard quarterly regulatory disclosure rather than new business information.