Adroit Infotech Limited announced on 22nd May, 2025, that there were no deviation(s) or variation(s) in the utilization of the proceeds from its Rights Issue for the year ended March 31, 2025.
- This statement was issued pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and aligns with the object clause of the company's Prospectus dated 19 January 2024.
- The statement was reviewed by the Audit Committee and subsequently taken on record by the Board at their respective meetings held on Thursday, 22 May 2025.
- Key details regarding the Rights Issue and its utilization are as follows:
- Mode of Fund Raising: Rights Issue
- Date of Raising funds: 14 February 2025
- Amount Raised: ₹4572.07 Lakhs
- Report filed for Quarter Ended: 31st March, 2025
- Deviation/Variation in use of Fund Raised: No
- The original objects for which funds were raised and the funds utilized are detailed below (amounts in Lakhs):
- Towards expansion of Business: Original Allocation ₹1750.00, Funds Utilised ₹358.00
- To pay off other non-current liabilities: Original Allocation ₹755.00, Funds Utilised ₹357.16
- To part finance the requirement of Working Capital: Original Allocation ₹653.44, Funds Utilised ₹315.52
- Acquisition of business in similar or complementary space: Original Allocation ₹1000.00, Funds Utilised ₹0.00
- To meet General Corporate Purposes: Original Allocation ₹661.72, Funds Utilised ₹358.07
- To meet the expenses of the Issue: Original Allocation ₹55.00, Funds Utilised ₹16.47
- Total Original Allocation: ₹4875.16 Lakhs
- Total Funds Utilised: ₹1405.22 Lakhs
- The Rights Issue proceeds which remained un-utilised as at 31 March 2025 are currently held in an account maintained with Axis Bank.
- Both the Audit Committee and the auditors reported no comments regarding the review.