We hereby confirm that there was no deviation or variation in the use of proceeds of funds raised through Rights Issue of equity shares.
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Zodiac Ventures has filed a quarterly compliance statement under SEBI's Listing Regulations confirming that the Rs. 28.42 crore raised through its Rights Issue (completed on 3 September 2025) has been used entirely in line with the objects stated in the Letter of Offer, with no deviation or variation. As of 30 September 2025, the company has utilised about Rs. 23.83 crore of the proceeds — Rs. 12.31 crore for repayment of secured/unsecured loans (against Rs. 12.50 crore allocated), Rs. 6.00 crore for general corporate purposes (against Rs. 6.52 crore), Rs. 5.07 crore for augmenting working capital (against Rs. 8.90 crore), and Rs. 0.44 crore towards issue-related expenses (against Rs. 0.50 crore). The Audit Committee reviewed the statement on 14 November 2025 and had no comments; auditors also raised no comments.
This is a routine compliance filing with no negative findings — funds are being deployed as promised to shareholders. The heavy utilisation toward loan repayment could modestly improve the company's debt profile, while the unused working capital portion remains available for future deployment.