Sadhana Nitro Chem reports no deviation in Rights Issue fund use
Sadhana Nitro Chem Limited confirmed no deviation in the use of proceeds from its Rights Issue for Q4FY26. The company raised Rs. 263.53 Crores and utilized Rs. 251.95 Crores towards approved objects. The statement was reviewed by the Audit Committee and monitored by Acuite Ratings and Research Limited.
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Sadhana Nitro Chem Limited has confirmed there is no deviation or variation in the use of proceeds raised through its Rights Issue for the quarter ended March 31, 2026. The company raised Rs. 263.53 Crores on March 12, 2026, and has utilized Rs. 251.95 Crores towards the specified objects. The utilization was reviewed by the Audit Committee, and Acuite Ratings and Research Limited acted as the Monitoring Agency.
Utilization of Funds
The funds were allocated across several categories including Inter-Corporate Deposits, Promoters Loan, and General Corporate Purposes. The company reported that the utilization aligns with the original disclosures made during the fund-raising process. No changes were made to the terms of contracts or objects approved by shareholders.
Financial Breakdown
The following table details the allocation and utilization of the proceeds:
| Particulars | Original Allocation (Amount in Crores) | Fund Utilised (Amount in Crores) |
|---|---|---|
| Inter-Corporate Deposit | 131.98 | 129.09 |
| Promoters Loan | 81.00 | 80.76 |
| Term Loan | 6.18 | 6.04 |
| Long-Term Working Capital | 16.09 | 12.05 |
| General Corporate Purposes | 27.00 | 22.73 |
| Issue Related expenses | 1.28 | 1.28 |
| Total | 263.53 | 251.95 |
Regulatory Compliance
The disclosure was filed pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditors and the Audit Committee provided no comments regarding the utilization of funds. Abhishek Asit Javeri, Managing Director, signed the statement on behalf of Sadhana Nitro Chem Limited.
Historical Stock Returns for Sadhana Nitrochem
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +1.69% | -3.23% | -60.85% | -88.31% | -89.35% |
How does the company plan to utilize the remaining Rs. 11.58 Crores of unallocated proceeds?
What impact will the significant allocation to Inter-Corporate Deposits and Promoters Loan have on the company's leverage ratios?
Are there any upcoming capital expenditure plans or strategic acquisitions that will require additional funding beyond the current Rights Issue?
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