The Byke Hospitality Ltd has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
BYKE · price
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The company has filed a nil-deviation statement for funds raised via a Preferential Issue of Equity Warrants. Rs. 54.95 crore was raised through three tranches in January, March, and July 2024. As of March 31, 2026, Rs. 53.68 crore has been deployed: Rs. 9.07 crore toward repayment of borrowings and Rs. 44.61 crore toward general corporate purposes. The remaining Rs. 1.27 crore is parked in fixed deposits earning ~6.60% interest. Both the Audit Committee and Auditors have stated 'No Comments', confirming proper utilization as per the stated objects.
The nil-deviation filing is a positive signal — it confirms the company deployed the raised capital as planned with no misuse, which is reassuring for shareholders and regulators.