HealthCare Global Enterprises Ltd Confirms No Deviation in Rights Issue Fund Utilization
HealthCare Global Enterprises Ltd has reported on the utilization of proceeds raised through its Rights Issue for the quarter ending March 31, 2026. The company confirmed that there were no deviations or variations in the manner the funds were used, aligning with the objects originally stated in the Letter of Offer dated February 24, 2026.The funds were allotted on March 27, 2026, with a total amount raised of INR 424,68,17,792. The company provided a detailed statement confirming adherence to the planned utilization objects for the specified quarter.
According to the disclosed data, the total amount raised through the Rights Issue was structured across several key objectives. The original allocations and their utilization status are summarized below:
| Original Object | Original Allocation (Rs in Crores) | Funds Utilised | Deviation/Variation |
|---|---|---|---|
| Pre-payment / repayment of borrowings | 170 | Nil | Nil |
| Part-payment for acquisition of 34.00% stake in Vizag Hospital and Cancer Research Center Private Limited | 154.04 | Nil | Nil |
| General Corporate Purposes | 95.57 | Nil | Nil |
| Issue related expenses | 5.07 | Nil | Nil |
| TOTAL | 424.68 | Nil | Nil |
The review of the fund utilization confirmed that the total funds raised were accounted for under the stated objects. The company also noted that the investigation into the deviation or variation of funds could mean a change in the objects or purposes of the funds or a change in the terms of the fund raising document.
The report confirmed the usage of proceeds did not involve any variation from the originally stated terms, indicating a consistent and planned allocation of the capital.
HCG Stock Price Movement
On Tuesday, Healthcare Global Enterprises Limited shares rallied by 2.73% to close at ₹646.85. The stock saw active trading, accumulating a total volume of 132,428 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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