Genpharmasec Limited has confirmed that there has been no deviation or variation in the utilization of funds raised from its recent Rights Issue for the quarter ended September 30, 2026. The company submitted a statement to the BSE, reviewed by its Audit Committee, affirming that the proceeds were used in accordance with the objects stated in the Letter of Offer.
Confirmation of Fund Utilisation
Genpharmasec Limited has submitted a statement to the BSE confirming that there has been no deviation or variation in the use of proceeds from its Rights Issue for the quarter that concluded on September 30, 2026. This confirmation aligns with the requirements of Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular No. CIR/CFD/CMDI/162/2019 dated December 24, 2019.
Objects and Utilisation
The company has provided a detailed breakdown of the funds raised and their utilisation against the original objects. The total amount raised through the Rights Issue was ₹4,845.05 Lakhs, with an allotment date of February 21, 2024. Key utilisation areas included:
- To acquire Equity Shares from existing shareholders of Derren Healthcare Private Limited and making it subsidiary Company: Original allocation was ₹1443.58 Lakhs, with the full amount utilised.
- To repay or prepay, in Full or in part, of certain Borrowings availed by our Company: Original allocation was ₹588.00 Lakhs, with ₹289.00 Lakhs utilised.
- To part finance the working capital of the Company: Original allocation was ₹1650.00 Lakhs, with the full amount utilised.
- To Meet General corporate purposes: Original allocation was ₹1138.47 Lakhs, with the full amount utilised.
- To meet the expenses of the Issue: Original allocation was ₹25.00 Lakhs, with the full amount utilised.
In all listed categories, the ‘Amount of Deviation/Variation for the quarter according to applicable object’ is marked as NIL, indicating full compliance with the stated objectives. The Audit Committee has duly reviewed this statement of deviation.
Source: BSE
