We hereby confirm that there is no deviation or variation in the use of proceeds of Rights Issue.
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Awaiting price reaction for this filing.
Spectrum Foods Ltd has confirmed to BSE that there has been no deviation or variation in the use of proceeds from its Rights Issue of equity shares compared to the objects stated in the Letter of Offer dated March 22, 2024. The company raised a total of approximately Rs. 19.39 crore through the Rights Issue across multiple calls completed between May and September 2024. As of March 31, 2025, Rs. 19.29 crore has been utilized, with the funds deployed for augmenting working capital (Rs. 2.96 crore allocated) and general corporate purposes (Rs. 8.53 crore allocated). The Audit Committee reviewed the statement and had no comments. Additionally, 2,05,038 equity shares remain unpaid as of March 31, 2025, and no monitoring agency was required for this issue.
This is a routine compliance filing confirming that the company has used the Rights Issue funds as originally disclosed, which is a neutral-to-positive signal for shareholders as it indicates fund deployment discipline. No material action is required from investors based on this update.