Statement of Deviation for the quarter ended March 2026
BYKE · price
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The Byke Hospitality Limited filed a nil deviation statement confirming that funds raised through a Preferential Issue of Equity Warrants have been utilized as per the stated objects. The company raised Rs. 54.95 Crores across three tranches in January, March, and July 2024. Of this, Rs. 53.68 Crores was deployed by March 31, 2026 — Rs. 9.07 Crores towards repayment of borrowings and Rs. 44.61 Crores towards general corporate purposes. The remaining unutilized Rs. 1.27 Crores was parked in fixed deposits earning 6.60% interest. Both the Audit Committee and auditors have stated no comments, indicating smooth fund deployment with no issues flagged.
This is a routine compliance filing with no negative implications for shareholders. The confirmation of fund utilization as intended is neutral for the stock, though the partial debt repayment (Rs. 9.07 Crores) may modestly reduce interest costs going forward.