The Byke Hospitality Ltd has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
The Byke Hospitality has filed a quarterly compliance report confirming there is no deviation or variation in the use of funds raised through its Preferential Issue of Equity Warrants. The company raised a total of Rs. 54.95 Crores across three allotments in January, March, and July 2024. As of June 30, 2025, Rs. 46.75 Crores has been deployed — Rs. 9.07 Crores towards repayment of borrowings and Rs. 37.68 Crores for general corporate purposes. The remaining Rs. 8.20 Crores (unutilized) is parked in Fixed Deposits with Yes Bank, which has earned Rs. 0.71 Crores in interest so far. Both the Audit Committee and auditors had no comments on the fund utilization.
This is a routine SEBI compliance filing that confirms the company is using the raised funds as originally approved by shareholders. Neutral to mildly positive for investor confidence as it demonstrates fund management discipline, though there is no new business catalyst here.