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Riddhi Corporate Services reports deviation in proceeds from public and preferential issues
14-Aug-2026, 10:59
Riddhi Corporate Services Limited informed the Bombay Stock Exchange that there is a deviation in the utilization of proceeds from its public issue of Rs 123.50 million raised on June 22, 2017, and its preferential issue of Rs 70.36 million raised on January 24, 2023. The deviation for the public issue involves utilizing funds for operational expenditure, including salaries and employee-related costs, a change approved by shareholders on March 30, 2026, while the preferential issue proceeds were utilized as originally planned.
Riddhi Corporate Services Limited informed the Bombay Stock Exchange that there is a deviation in the utilization of proceeds from its public issue of Rs 123.50 million raised on June 22, 2017, and its preferential issue of Rs 70.36 million raised on January 24, 2023. The deviation for the public issue involves utilizing funds for operational expenditure, including salaries and employee-related costs, a change approved by shareholders on March 30, 2026, while the preferential issue proceeds were utilized as originally planned.