Saptak Chem and Business Limited has filed a regulatory disclosure with BSE Limited confirming no deviation or variation in the utilization of proceeds from its preferential issue of convertible warrants. The disclosure is made pursuant to SEBI Circular CIR/CFD/CMD1/162/2019 dated 24th December 2019 (as amended) and Regulation 32(1) of SEBI (LODR) Regulations, 2015.
The company issued 40,00,000 (Forty Lakh) convertible warrants on a preferential basis for cash consideration at a price of ₹10.50 per warrant (including both Warrant Subscription Price and Warrant Exercise Price). This issuance was approved by shareholders through an Extra Ordinary General Meeting held on 12th November 2025.
Fund Utilization Details
- Total amount raised under the preferential issue: ₹4,20,00,000 (Four Crore Twenty Lakh)
- Amount actually raised as of the reporting period: ₹1,57,50,000 (Seventy-Five Percent of allotted shares of 20,00,000)
- Company received 25% of consideration amount aggregating to ₹1,05,00,000 (One Crore Five Lakh) from allottees as required under SEBI ICDR Regulations
- Funds were raised on 6th April 2026
Compliance Status
The company confirms there is no deviation and/or variation in the utilization of proceeds from the objects mentioned in the EGM notice. The statement of deviation has been duly reviewed by the Audit Committee, which provided no comments. The auditors also provided no comments on the matter.
Reporting Period
The report covers the quarter and year ended June 30, 2026. No monitoring agency was appointed for this fund raise.
The disclosure includes an attached Annexure-A containing the formal statement of deviation, confirming no deviation or variation in the utilization of these proceeds.