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Awaiting price reaction for this filing.
Swiss Military Consumer Goods Limited has confirmed that there is no deviation or variation in the use of proceeds from its Rights Issue conducted on September 18, 2024, for the quarter ended March 31, 2025. The company raised Rs. 4,879.85 Lakhs (net of issue expenses) under the Rights Issue, of which Rs. 3,150 Lakhs has been utilized so far in line with the stated objects. The fully utilized portion includes Rs. 700 Lakhs for adjusting promoter unsecured loans and Rs. 2,450 Lakhs (out of Rs. 2,450.58 Lakhs allocated) invested in its wholly owned subsidiary SM Travel Gear Private Limited for plant and machinery and working capital. No funds have been deployed yet towards the working capital requirement (Rs. 1,697.10 Lakhs allocated) and general corporate purposes (Rs. 32.17 Lakhs allocated). The Audit Committee reviewed the statement at its meeting on May 21, 2025, and raised no comments.
This is a routine compliance filing under SEBI LODR Regulation 32 confirming disciplined deployment of Rights Issue funds as per the original plan, with no negative implications for shareholders. Investors may note that roughly 35% of the proceeds (about Rs. 1,730 Lakhs) are still pending utilization, which could be a point to track in subsequent quarterly filings.