Spectrum Electrical Industries Limited - Submission of the Statement of Deviation and Variation pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Spectrum Electrical Industries Ltd has submitted its quarterly statement under SEBI Regulation 32 for funds raised through a Qualified Institutional Placement (QIP) of equity shares on 15 January 2024, totalling Rs. 3,654.59 Lakhs. The funds were allocated across four objects: Capital Expenditure (Rs. 1,375 Lakhs), Working Capital (Rs. 2,214 Lakhs), General Corporate Purpose (Rs. 50 Lakhs), and Issue Expenses (Rs. 15.59 Lakhs). The company has confirmed there is NO deviation or variation in the utilization of proceeds as of 31 March 2026, with the full amount deployed as planned. Both the Audit Committee and auditors have reviewed and confirmed no comments or issues with the fund utilization.
Positive signal for investors — all QIP proceeds have been deployed as intended with no deviations, indicating disciplined use of capital raised. No adverse impact on the stock expected from this filing.