Sandu Pharmaceuticals Limited has submitted a statement detailing the utilization of funds raised through a preferential issue for the quarter ended September 30, 2026. The report, covering three tranches of the issue, confirms that the proceeds were utilized as per the original objects. The company stated that the funds are allocated towards revamping existing capital machinery, developing marketing infrastructure, and general business enhancement.
Sandu Pharmaceuticals Reports on Preferential Issue Fund Utilization
Sandu Pharmaceuticals Limited has provided a comprehensive statement regarding the utilization of funds raised through a recent preferential issue. The disclosure covers three tranches of the issue and pertains to the financial period ending September 30, 2026.
Details of Fund Utilization
The statement, duly reviewed by the Audit Committee and approved by the Board, confirms that the funds raised have been utilized in line with the company’s initial objectives. The specified objects for which the funds were raised include:
- Revamping of the existing capital machinery.
- Developing marketing infrastructure.
- Civil work required for major plant and machinery.
- Purchase of new/additional plant and machinery.
- Working capital requirement.
- Investment in technologies and for general purposes which shall enhance the business of the Company.
Tranche-wise Utilization
For the 01st Tranche, raised on March 31, 2021, the total amount raised was ₹2,63,79,653, and the entire amount has been utilized for the stated objectives.
The 02nd Tranche, raised on February 28, 2022, amounted to ₹1,38,05,408. This amount has also been fully utilized towards the approved purposes.
For the 03rd Tranche, raised on July 14, 2022, the company raised ₹1,31,94,934. As of September 30, 2026, ₹66,45,748.19 of these funds have been utilized, with the remaining amount available 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 company has confirmed that there have been no deviations or variations in the utilization of these funds from the objects approved by the shareholders.
Source: BSE
