Submission of Statement of Deviation in the use of proceeds of Rights Issue under Regulation 32 of SEBI (LODR), 2015
Awaiting price reaction for this filing.
Iykot Hitech Toolroom Ltd has submitted a NIL statement of deviation or variation in the use of proceeds from its Rights Issue for the quarter ended 31st March 2025. The company had raised Rs. 2,48,43,000 (approximately Rs. 2.48 crore) through the Rights Issue on 10th May 2024. The Audit Committee reviewed the statement and had no comments, confirming that the funds are being utilised in line with the originally disclosed purpose (general corporate purposes). No monitoring agency was appointed for this issue.
This is a routine compliance filing with no negative implications. The nil deviation report signals that the company is using the rights issue proceeds as planned, which is mildly reassuring for shareholders but unlikely to move the stock price.