Sagarsoft (India) Limited has submitted a statement detailing the utilization of funds raised from a preferential issue. The company issued 2,00,000 equity shares at a price of Rs. 254/- per share. These funds, totaling Rs. 5,08,00,000/-, have been utilized for working capital requirements as per the submitted annexure.
Fund Utilization Disclosure
Sagarsoft (India) Limited has formally communicated the utilization of funds procured through a recent preferential issue. In compliance with regulatory guidelines, the company has provided a statement outlining how the capital raised has been deployed. The preferential issue involved the allotment of 2,00,000 equity shares, with each share priced at Rs. 254/-.
Details of Fund Raising and Usage
The total amount raised through this preferential issue amounted to Rs. 5,08,00,000/-. The company has specified that these funds have been allocated towards general corporate purposes and specifically for working capital requirements. This information is crucial for stakeholders to understand the financial strategy and operational support derived from the equity issuance.
Regulatory Compliance
The submission aligns with the company’s commitment to transparency and regulatory adherence. The statement confirms that the funds raised were utilized in accordance with the disclosures made during the issuance process, ensuring accountability to shareholders and the market.
Source: BSE
