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Jagsonpal Services utilized funds raised via equity share allotment, reallocating portions due to delays
14-Aug-2026, 07:17
Jagsonpal Services Limited, formerly known as Jagsonpal Finance & Leasing Limited, disclosed a statement of deviation or variation in the utilization of funds raised through a preferential issue of equity shares. The company had raised Rs 15,88,12,500 through the allotment of 1,27,05,000 equity shares on March 10, 2025, at Rs 12.50 per share, and as of June 30, 2026, the proceeds allocated towards development of financial technology and general corporate purposes were fully utilized, while the funds allocated for obtaining NBFC licenses were partially utilized due to delayed timelines and a changed business environment, prompting a reallocation approved by the company's shareholders on July 31, 2026.
Jagsonpal Services Limited, formerly known as Jagsonpal Finance & Leasing Limited, disclosed a statement of deviation or variation in the utilization of funds raised through a preferential issue of equity shares. The company had raised Rs 15,88,12,500 through the allotment of 1,27,05,000 equity shares on March 10, 2025, at Rs 12.50 per share, and as of June 30, 2026, the proceeds allocated towards development of financial technology and general corporate purposes were fully utilized, while the funds allocated for obtaining NBFC licenses were partially utilized due to delayed timelines and a changed business environment, prompting a reallocation approved by the company's shareholders on July 31, 2026.