Shree Rajasthan Syntex Limited has submitted a statement confirming no deviation or variation in the utilization of funds raised through a preferential issue during the quarter ended September 30, 2026. The funds were raised via equity shares allotted on November 28, 2025. The statement details the original objects for which funds were raised, including repayment of financial creditors, payment to workmen, and financing working capital and capital expenditure, all of which show full utilization as per the planned objectives, with a residual balance for capital expenditure.
Preferential Issue Fund Utilization
Shree Rajasthan Syntex Limited has issued a statement detailing the utilization of funds raised through a preferential issue. The report covers the quarter ending September 30, 2026, and confirms that there have been no deviations or variations in how the funds have been utilized compared to the objects stated in the preferential issue of shares. These shares were allotted on November 28, 2025.
Details of Fund Utilization
The statement breaks down the utilization of funds against the original objects for which they were raised. These objects include:
- Repaying financial creditors of the Company, specifically unsecured Inter-Corporate Loans. The allocated amount was ₹255.00 Lakhs, and the utilized amount up to September 30, 2026, was also ₹255.00 Lakhs, with 0 Lakhs unutilized.
- Paying dues of workmen/employees of the Company. An amount of ₹65.00 Lakhs was allocated, and the full ₹65.00 Lakhs was utilized by the quarter’s end, leaving 0 Lakhs unutilized.
- Financing working capital requirement of the Company. The allocated amount was ₹456.56 Lakhs, and this entire amount was utilized by September 30, 2026, with 0 Lakhs unutilized.
- Financing capital expenditure requirement of the Company, which includes the purchase of new machineries and equipments. An amount of ₹300.00 Lakhs was allocated. Of this, ₹259.30 Lakhs had been utilized by June 30, 2026, and the total utilization reached ₹300.00 Lakhs by September 30, 2026. There is a note indicating ₹40.70 Lakhs pending utilization for this objective.
Financial Statement Confirmation
The accompanying certificate from Doogar & Associates, Chartered Accountants, confirms that the statement of fund utilization is in agreement with the unaudited financial statements for the six months ended September 30, 2026. The auditors found that the statement fairly presents the manner of utilization of funds in all material aspects. The total funds raised amounted to ₹1076.56 Lakhs.
Source: BSE
