Interactive Financial Services Limited filed a regulatory disclosure pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding deviation/variation in the use of proceeds from its right issue of equity shares for the quarter ended September 30, 2026.

Fund Raising Details

  • Mode of Fund Raising: Rights Issue
  • Date of Raising Funds: January 27, 2025 to February 05, 2025
  • Amount Raised: ₹1,175.11 lakhs
  • Monitoring Agency: Not Applicable

Deviation Details

There is a deviation/variation in the use of proceeds from the objects stated in the Letter of Offer dated January 13, 2025. The deviation was not pursuant to a change in terms of a contract or objects approved by shareholders, and no shareholder approval date is specified for this particular deviation.

Object-wise Utilization Details

| Original Object | Modified Object | Original Allocation (₹ Lakhs) | Modified Allocation (₹ Lakhs) | Funds Utilized (₹ Lakhs) | Amount of Deviation/Variation (₹ Lakhs) | Remarks |

| Setting Up of Office Space | Increase Networth of Company | 304.50 | - | - | 304.50 | - |

| Increase Networth of Company | Not Applicable | 595.50 | 900.00 | 900.00 | Not Applicable | Not Applicable |

| General corporate purposes | Not Applicable | 250.00 | Not Applicable | 250.00 | Not Applicable | Not Applicable |

| Issue related Expenses | Not Applicable | 25.11 | Not Applicable | 10.68 | Not Applicable | Not Applicable |

| Total | | 1175.11 | | 1160.68 | | |

Auditor Certification

B. T. Vora & Co., Chartered Accountants, certified the utilization of money raised through the right issue for the quarter ended September 30, 2026. Their certification shows:

  • Setting Up of Office Space: ₹0.00 utilized (original proposed: ₹0.00 after modification)
  • Increase Networth of Company: ₹900.00 utilized (full amount of modified allocation)
  • General Corporate purpose: ₹250.00 utilized (full amount)
  • Issue Related Expense: ₹10.68 utilized against ₹25.11 proposed, leaving ₹14.43 unutilized
  • Total Utilization: ₹1160.68 lakhs utilized out of ₹1175.11 lakhs raised

Shareholder Approval History

The auditor's note clarifies that during the quarter ended September 30, 2025, an EGM of shareholders was called and a resolution was passed for change in object of utilization from 'Purchase of Immovable Properties' to 'Increase in Networth of the company'. A special resolution was passed in the EGM for variation in proposed utilization by cancelling the deployment of ₹304.50 lakhs earmarked for 'Setting up of Office Space' and reallocating this amount towards 'Increase in Networth of the Company'.

Committee Review

The audit committee noted and approved the deviation/variation as mentioned in the disclosure.