Key Quantitative Figures
Public Issue (First Issue):
- Date of Fund Raising: 22-06-2017
- Amount Raised: ₹12,35,00,000 (₹12.35 crore)
- Quarter Ended: 31st March 2026
- Deviation Exists: Yes
- Shareholder Approval Date: 30-03-2026
Preferential Issue (Second Issue):
- Date of Fund Raising: 24-01-2023
- Amount Raised: ₹7,03,56,000 (₹7.04 crore)
- Quarter Ended: 31st March 2026
- Deviation Exists: No
Fund Utilization Details
Public Issue Deviation Analysis (Amounts in Lakhs):
Original Object: Acquisitions and Other Strategic Initiatives
- Original Allocation: ₹223.00 lakh
- Funds Utilized for Original Object: ₹5.00 lakh
- Modified Allocation: ₹218.00 lakh
- Modified Object: Operational expenditure for payment of salaries and employee-related costs for key functional verticals including Third-Party Logistics (3PL), transportation, field operations, digitization initiatives, manpower/human resource management, back-office support and administrative assurance
- Balance Amount: Still unutilized with company
Original Object: Capital Expenditure
- Original Allocation: ₹661.59 lakh
- Funds Utilized: ₹0.00
- Modified Allocation: ₹661.59 lakh
- Modified Object: Same as above operational expenditure
- Balance Amount: Still unutilized with company
Original Object: General Corporate Purpose
- Original Allocation: ₹300.00 lakh
- Funds Utilized: ₹0.00
- Modified Allocation: ₹300.00 lakh
- Modified Object: Same as above operational expenditure
- Balance Amount: Still unutilized with company
Original Object: Public Issue Expenses
- Original Allocation: ₹50.41 lakh
- Funds Utilized: ₹38.09 lakh
- Deviation/Variation: ₹12.32 lakh
- Balance Amount: Still with company awaiting utilization
Preferential Issue Utilization:
- Object: General Corporate Use
- Allocation: ₹703.56 lakh
- Funds Utilized: ₹703.56 lakh
- Deviation: No deviation reported
- Status: Total amount utilized
Audit Committee Review
- The Audit Committee reviewed both issues
- Confirmed no deviation in preferential issue utilization
- Approved the public issue deviation statement
Parties Involved
- Listed Entity: Riddhi Corporate Services Limited
- Stock Exchange: Bombay Stock Exchange Limited
- Compliance Officer: Mustafa Mufaddal Bhai Sibatra (Compliance Officer & Company Secretary)
- Monitoring Agency: Not applicable for both issues
Financial Impact
- Total public issue funds reallocated: ₹11.80 crore (from acquisitions/capex to operational expenses)
- Public issue expenses underutilized by ₹12.32 lakh
- Preferential issue fully utilized as originally intended