Key Quantitative Figures
- Amount raised through preferential issue: ₹17,32,00,000 (Rs. 17.32 crore)
- Date of fund raising: February 25, 2026
- Amount utilized for objects as per letter of offer: ₹3,81,94,139 (as indicated in the utilization table)
Parties Involved
- Listed Entity: 7Seas Entertainment Limited (Scrip Code: 540874, Symbol: 7SEASL, ISIN: INE454F01010)
- Monitoring Agency: Brickwork Ratings India Private Limited
- Audit Committee: Reviewed and approved the nil deviation statement
Purpose and Rationale
The company confirms that there has been no deviation or variation in the use of proceeds from the preferential allotment from the objects stated in the Letter of Offer during the quarter ended September 30, 2026.
Financial Impact
No deviation or variation reported. The entire proceeds raised through the preferential issue have been utilized for the objects as stated in the Letter of Offer/Explanatory statement.
Objects of Fund Raising
The original objects for which funds were raised include:
- Working capital requirements of the company
- Investment in new business projects, opportunities, and strategic ventures
- Incurring capital expenditure towards acquisition of office premises
- General corporate purposes
Monitoring and Compliance
- Monitoring agency appointed: Yes (Brickwork Ratings India Private Limited)
- Audit committee comments: None
- Auditor comments: None
- The nil statement was duly reviewed by the audit committee