Minolta Finance Limited has filed its statement on the utilization of funds raised through a rights issue. For the quarter ended September 30, 2026, the company reported raising ₹48,00,00,000. The funds were primarily allocated for augmenting the capital base of the company, including expansion of its NBFC financing business. The reported utilization aligns with the original object, with no deviation noted.
Minolta Finance Limited: Rights Issue Fund Utilization Statement
Minolta Finance Limited has submitted its quarterly statement detailing the utilization of funds raised via a rights issue. The report covers the period ending September 30, 2026.
Fund Raising Details
The company successfully raised funds through a Rights Issue, with the date of raising funds being July 30, 2026. The total amount raised was ₹48,00,00,000.
Fund Utilization
The primary objective for which these funds were raised was to augment the capital base of the Company, which includes the expansion of the NBFC financing business. The allocated amount for this object was ₹46.50 crore. As per the filing, the funds utilized for this purpose were also ₹46.50 crore, indicating no deviation or variation from the original object. The monitoring agency for this issuance is Acuite Ratings & Research Limited.
Statement on Deviation
The company explicitly states that there is no deviation or variation in the use of funds raised. Consequently, information pertaining to changes in contract terms approved by shareholders or explanations for deviation is marked as not applicable (NA).
Auditor and Audit Committee Comments
There were no comments from the Audit Committee or the auditors regarding the utilization of these funds, further affirming that the utilization is in line with the initial plans.
Source: BSE
