Statement on Deviation or Variation of funds under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Yarn Syndicate Limited has confirmed to BSE that there is no deviation or variation in the utilization of proceeds from its Rights Issue conducted on 25 January 2024 for the quarter and half-year ended 30 September 2025. The company raised Rs 4,684.50 Lakhs through the Rights Issue, of which Rs 2,254.50 Lakhs was received as application money and fully utilized for the stated purposes. The funds were deployed across three objectives: Rs 1,984.50 Lakhs for acquisition of equity shares in Stitched Textiles Limited, Rs 270 Lakhs for general corporate purposes, and Rs 1,350 Lakhs earmarked for incremental working capital (of which Rs 0 has been deployed so far). The company clarified that no fresh funds were raised during the current quarter and there are no unutilized issue proceeds, except for amounts linked to partly paid-up shares that are yet to be converted into fully paid-up shares. The filing is being made as a routine compliance and good governance practice.
This is a routine regulatory disclosure confirming that the company's Rights Issue funds have been used in line with the stated objects, with no misuse or diversion. For shareholders, there is no negative signal — the company is fully compliant, though the pending conversion of partly paid-up shares remains a point to watch as it affects the full deployment of allocated capital.