Pursuant to the relevant regulation of the SEBI(Listing Obligations and Disclosure requirements), 2015
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Syschem India has filed a Fund Utilization Certificate from its statutory auditor for the preferential issue of Convertible Warrants. The company raised a total of Rs. 33.87 crore between 4th February 2025 and 5th March 2025, with Rs. 20.46 crore received as 25% upfront and another Rs. 13.41 crore from conversion of 36.5 lakh warrants into equity on 5th March 2025. The auditor confirmed that funds were used for their stated purpose: Rs. 24.35 crore for repayment of security deposit and Rs. 9.52 crore for working capital needs. No deviation from the stated objects was reported, and the Audit Committee reviewed and approved the utilization. Unutilized proceeds have been temporarily parked/invested.
This is a routine compliance filing confirming proper use of raised funds. No negative signals — funds deployed as originally disclosed, which reassures shareholders. The original issue plan was much larger at Rs. 81.83 crore, so further fundraising rounds may follow to meet remaining capex and working capital needs.