Genpharmasec Limited has officially confirmed that there has been no deviation or variation in the utilization of funds raised through its recent Rights Issue. This statement pertains to the quarter ended June 30, 2026, and assures stakeholders that the proceeds have been used as per the objects stated in the Letter of Offer. The company’s Audit Committee has reviewed and concurred with this confirmation.
Statement on Rights Issue Fund Utilization
Genpharmasec Limited has issued a confirmation regarding the utilization of funds raised via its Rights Issue for the financial quarter ending June 30, 2026. In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company states that there has been no deviation or variation in how the raised capital has been deployed relative to the objectives outlined in the Rights Issue’s Letter of Offer.
Audit Committee Review
This critical confirmation has been duly reviewed by the company’s Audit Committee. The statement, which asserts the absence of any discrepancies in fund utilization, has been attached for the perusal of regulatory bodies. The total amount raised was Rs. 4,845.05 Lakhs, with the report covering the quarter ended June 30, 2026.
Breakdown of Fund Utilization
The funds raised were allocated across several key objectives:
- To acquire Equity Shares from existing shareholders of Derren Healthcare Private Limited and making it a subsidiary Company: Rs. 1443.58 Lakhs utilized.
- To repay or prepay, in Full or in part, of certain Borrowings availed by the Company: Rs. 289.00 Lakhs utilized.
- To part finance the working capital of the Company: Rs. 1650.00 Lakhs utilized.
- To Meet General corporate purposes: Rs. 1138.47 Lakhs utilized.
- To meet the expenses of the Issue: Rs. 25.00 Lakhs utilized.
In all instances, the amount utilized for the quarter was equal to the original allocation, resulting in NIL deviation or variation for each object.
Source: BSE
