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Saptak Chem confirms proper use of Rs 4,20,00,000 proceeds from convertible warrant issuance
01-Aug-2026, 07:24
Saptak Chem and Business Limited announced that there was no deviation or variation in the utilization of proceeds from the issuance of 40,00,000 convertible warrants on a preferential basis, for which it received Rs 1,05,00,000 from allottees, as per a filing with the BSE Limited on August 1, 2026. The company had raised Rs 1,57,50,000, representing 75% of the allotted shares of 20,00,000, under the preferential issue, with a total amount raised being Rs 4,20,00,000, and the funds were utilized to meet working capital requirements and for general corporate purposes.
Saptak Chem and Business Limited announced that there was no deviation or variation in the utilization of proceeds from the issuance of 40,00,000 convertible warrants on a preferential basis, for which it received Rs 1,05,00,000 from allottees, as per a filing with the BSE Limited on August 1, 2026. The company had raised Rs 1,57,50,000, representing 75% of the allotted shares of 20,00,000, under the preferential issue, with a total amount raised being Rs 4,20,00,000, and the funds were utilized to meet working capital requirements and for general corporate purposes.