Sandu Pharmaceuticals Limited has submitted a detailed statement on the utilization of funds raised from preferential issues across three tranches, ending June 30, 2026. The company confirmed that funds raised were used as per the original objectives, which include revamping existing machinery, developing marketing infrastructure, and purchasing new plant and machinery. All funds raised in the reported period have been utilized for these specified purposes.
Sandu Pharmaceuticals Reports on Preferential Issue Fund Utilization
Sandu Pharmaceuticals Limited has provided a comprehensive statement detailing the utilization of funds garnered through its preferential issues across three distinct tranches. This report, submitted as of June 30, 2026, adheres to SEBI regulations regarding the disclosure of fund utilization post-preferential allotment. The company has confirmed that the funds raised have been utilized in line with the originally stated objectives.
Tranche 1: Preferential Issue of Equity Shares
For the first tranche, dated March 31, 2021, Sandu Pharmaceuticals raised ₹2,63,79,653. The original objective for these funds was to facilitate the revamping of existing capital machinery, develop marketing infrastructure, undertake civil work for major plant and machinery, and purchase new or additional plant and machinery. The statement confirms that the entire amount raised was utilized for these purposes, with no deviation reported.
Tranche 2: Preferential Issue of Equity Shares
The second tranche, dated February 28, 2022, saw the company raise ₹1,38,05,408. Similar to the first tranche, these funds were designated for upgrading capital machinery, expanding marketing infrastructure, executing civil works, and acquiring new plant and machinery. The company has reported full utilization of these funds for the stated original objects, indicating no variance in their application.
Tranche 3: Preferential Issue of Equity Shares
In the third tranche, which took place on July 14, 2022, Sandu Pharmaceuticals raised ₹1,31,94,934. The proceeds from this allotment were also intended for the revamping of existing capital machinery, enhancement of marketing infrastructure, necessary civil works, and the acquisition of new or additional plant and machinery. The company’s submission indicates that these funds have been applied towards the intended purposes, with no deviation observed.
Fund Utilization Summary
Across all three tranches, Sandu Pharmaceuticals has demonstrated a consistent approach to fund utilization, aligning strictly with the objectives outlined at the time of raising capital through preferential issues. The company confirmed that funds not immediately utilized were held in an escrow account, with an FD created in the name of the Company in Bank of Baroda for utilizing as and when required. The Audit Committee and the Board have reviewed and approved these statements, confirming adherence to the allocated purposes.
Source: BSE
