SATYAM SILK MILLS LIMITED
Script ID: ZSATYASL
Nature of Disclosure: Statement of Deviation(s) or Variation(s) under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, for the quarter/year ended March 31, 2026.
Key Compliance Statement: The company confirms that there has been no deviation or variation in the use of proceeds from funds raised through its rights issue.
Fund Raising Details:
- Mode of Fund Raising: Rights Issue
- Date of Raising Funds: July 6, 2022
- Amount Raised: ₹1,11,62,500 (₹1.12 crore)
Fund Utilization Purpose:
Net proceeds were to be utilized for:
- Part finance incremental Working Capital of the company
- Meet General corporate purposes
- Meet the expenses of the Issue
Current Status: Unutilized funds have been temporarily invested in Money Market Mutual Funds pending actual utilization.
Governance Review: The statement was reviewed and approved by the Audit Committee at its meeting held on May 29, 2026.
Regulatory References: Filed pursuant to SEBI LODR Regulations, 2015, Regulation 32 and SEBI Circular CIR/CFD/CMD1/162/2019.
Additional Information:
- Monitoring Agency: Not applicable
- Shareholder Approval: Not applicable (no deviation)
- Auditor Comments: Not applicable
Financial Impact: No deviation from originally stated fund utilization objectives. Temporary investment in Money Market Mutual Funds represents interim deployment of unutilized funds.