HealthCare Global Enterprises Limited (HCG) has confirmed that there was no deviation or variation in the utilization of proceeds raised through its Rights Issue for the quarter ended June 30, 2026. This statement aligns with the disclosures made in the Letter of Offer and has been reviewed by the company’s Audit Committee.
Confirmation of Fund Utilization
HealthCare Global Enterprises Limited has issued a statement confirming that the funds raised through its recent Rights Issue have been utilized in accordance with the objects stated in the original Letter of Offer dated February 24, 2026. This confirmation pertains to the financial quarter ending June 30, 2026.
Compliance with Regulations
The company’s submission is made in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and subsequent SEBI circulars. The statement, enclosed as an annexure, details the utilization of funds and has been duly reviewed and approved by the company’s Audit Committee. HCG has also made this information available on its official website.
Details of Fund Raising
The Rights Issue, which took place on March 27, 2026, raised a total of Rs. 424,68,17,792 (Indian Rupees Four Hundred Twenty-Four Crore Sixty-Eight Lakh Seventeen Thousand Seven Hundred and Ninety-Two Only). The report filed for the quarter ended June 30, 2026, indicates that there was no deviation in the use of these funds from the disclosed objects. The monitoring agency, CARE Ratings Limited, has noted no deviation or variation in the utilization of the funds raised.
Utilization Breakdown
The original objects for which funds were raised included pre-payment and/or repayment of borrowings, part-payment for the acquisition of an additional stake in Vizag Hospital and Cancer Research Center Private Limited, General Corporate Purposes, and issue-related expenses. The utilization table shows that while the actual issue-related expenses were Rs. 4.81 crore against an estimated Rs. 5.07 crore, the unutilized amount of Rs. 0.26 crore was re-allocated towards General Corporate Purposes. Consequently, the utilization under General Corporate Purposes amounted to Rs. 95.83 crore, slightly exceeding the originally allocated Rs. 95.57 crore. The company emphasizes that there has been no change in the overall utilization of the net proceeds and that this utilization is in accordance with the disclosures in the Offer Document and SEBI regulations.
Source: BSE
