Khoobsurat Ltd Confirms No Deviation in Utilization of Funds Raised from Right Issue
Khoobsurat Limited has confirmed that there are no deviations or variations regarding the utilization of proceeds raised through its Rights Issue for the first quarter ended June 30, 2026. The company provided a detailed statement outlining how the funds were allocated across various corporate objectives.The fundraising effort was executed via a Right Issue between May 21, 2024, and June 13, 2024, generating an amount of 33.74285 Crore. The utilization status has been reported for the quarter ending June 30, 2026.
The overall details regarding the fundraising are summarized in the following table:
| Mode of Raising Fund | Right Issue |
|---|---|
| Date of Raising Funds | May 21, 2024 to June 13, 2024 |
| Amount Raised | 33.74285 Crore |
| Is there a Deviation / Variation in use of funds raised | No |
The company confirmed that all objectives stated in the prospectus dated April 10, 2024, remain unchanged regarding fund utilization for this period. The original allocated amounts were reviewed against actual usage to ensure strict adherence to the planned corporate structure.
The primary allocations and current utilization status are detailed below:
| Original Object | Funds Utilized (₹ in Lakh) | Original Allocation ( ₹ in Lakh) | Remarks |
|---|---|---|---|
| Purchase of Corporate Offices in Mumbai, Kolkata and Goa | - | 350.00 | Nil variation observed. |
| Equity Investment in Salcete Brewing Limited | 600.00 | 600.00 | Funds fully utilized. |
| Purchase of Tradable and Strategic Securities and Stock | 1,700.00 | 1,700.00 | Funds fully utilized. |
| General Corporate Purposes | 574.29 | 574.29 | Funds fully utilized. |
| Business Expansion, Working Capital, Business Promotions, etc. | 200.68 | 200.68 | Funds fully utilized. |
| Right Issue Expenses | 99.32 | 150.00 | Nil variation observed. |
The total original planned allocation for all objectives amounted to 3374.29 Lakh, while the funds utilized reached 3174.29 Lakh. The company confirmed that there is no modification to any objects, and all expenditures align with the initial plans approved during the Right Issue phase.
Stock Price Movement
As of 12:45, shares of Khoobsurat Ltd are dipping lower to ₹0.51, reflecting a 1.92% drop. The stock has been trading within the intraday range established between a high of ₹0.61 and a low of ₹0.50.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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