Singer India Limited Reports Utilization of Funds Raised from Preferential Issue
Singer India Limited has reported on the utilization status of funds raised through a Preferential Issue, confirming that there was no deviation or variation in the usage of proceeds against the objects initially stated. The report covers the quarter ended June 30, 2026.The company had successfully completed the Preferential Issue on December 29, 2025, raising a total amount of Rs. 4,48,55,173.02.
Fund Allocation Details
The utilization of funds raised is detailed across two primary objectives: meeting the requirements for manufacturing facility expansion and covering issue expenses.For the objective related to expanding the manufacturing facility, which includes designing and developing tools and equipment for Sewing Machines, the original allocation was Rs. 436.55 Lacs. Funds utilized towards this specific object amounted to Rs. 47.45 Lacs.
Regarding Issue Expenses, the initial allocation stood at 12.00 Lacs, with a modified allocation of 10.97 Lacs reported.
The consolidated figures for fund utilization are presented below:
| Item | Original Allocation (in Rs. Lacs) | Modified Allocation (if any) | Funds Utilized (in Rs. Lacs) |
|---|---|---|---|
| Meeting the fund requirements for expansion of the manufacturing facility including designing and development of tools and equipment for Sewing Machines | 436.55 | None | 47.45 |
| Issue Expenses | 12.00 | 10.97 | |
| Total | 448.55 | 58.42 |
Singer India Limited confirmed that there was no deviation in the objects or purposes for which the funds were raised, nor a deviation in the amount of funds actually utilized against what was originally disclosed.
The company noted that deviation in relation to the use of these funds could refer to:
1. Deviation in the objectives or purposes for which the funds have been raised, or
2. Deviation in the amount of funds actually utilized as compared to the original disclosure, or
3. A change in the terms of a contract referred to in the fund raising document such as the prospectus or letter of offer.
SINGERIND Stock Price Movement
Singer India Limited shares surged on Wednesday, closing at ₹91.3 after gaining a strong 19.99% from the previous day's close of ₹76.09. The dramatic rally saw the stock touch its 52-week high as over 2.2 million shares were traded during 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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