Cybertech Systems: ₹40.28 Crore Preferential Allotment Funds Fully Utilized
Cybertech Systems has fully utilized ₹40.28 crore raised via preferential allotment on December 4, 2023. These funds were invested in its US subsidiary, CyberTech Systems and Software Inc. The utilization aligns with shareholder-approved objectives. The Q1 FY27 deviation statement will reflect this.
The utilization of funds for investment in a subsidiary is a significant corporate action that directly impacts the company's financial structure and potential growth, warranting a medium impact.
The announcement confirms the full utilization of funds raised through preferential allotment, indicating that the company is executing its plans as stated and deploying capital effectively into its subsidiary.
Cybertech Systems And Software Limited has announced the full utilization of funds raised through a preferential allotment on December 4, 2023. The total amount raised, ₹40.27 crore (Rupees Forty Crores Twenty-Seven Lakhs Seventy-Two Thousand and Five Hundred only), has been invested in the equity capital of its wholly-owned subsidiary, CyberTech Systems and Software Inc., USA. This utilization aligns with the objects of the issue as approved by the company's shareholders via postal ballot on November 27, 2023, with a corrigendum issued on November 06, 2023.
The statement of deviation, as per Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter ended June 30, 2026, will reflect the complete utilization of these funds.
What to do with a filing like this
Cybertech Systems And Software Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Cybertech Systems And Software Limited. Read the original for the full detail.