Pursuant to regulation 32 of SEBI , (Listing Obligations and Disclosure requirement), 2015, Please find attached the statement of deviation and Variations for your records.
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Syschem India Ltd has filed a compliance statement confirming that there is no deviation or variation in the use of proceeds from its preferential issue for the quarter ended 31st March 2025. The company raised Rs. 33.87 crore (Rs. 33,87,12,500) through the preferential issue on 4th February 2025 and 5th March 2025, against a total planned raise of Rs. 81.83 crore. Out of the raised amount, Rs. 9.52 crore (952.125 lakhs) has been utilized during the quarter for working capital requirements, while the remaining unutilized funds have been temporarily parked/invested. No amounts have been deployed yet towards security deposit repayment, capex, or general corporate purposes. The Audit Committee reviewed the fund utilization and confirmed that funds were used for the stated objectives.
This is a routine SEBI compliance filing with no negative flags — the company has stayed on track with its stated use of funds. Shareholders can take comfort that the Audit Committee has verified proper deployment, though the slow utilization (only 28% of raised funds deployed so far, and only for working capital) means the benefits to the business from capex and other stated purposes are yet to materialize.