Sadhana Nitrochem: No Deviation in Rights Issue Fund Utilization for Q1 FY27
Sadhana Nitrochem Limited reported no deviation in the utilization of its ₹263.53 crore Rights Issue proceeds for the quarter ended June 30, 2026. The Monitoring Agency Report by Acuite Ratings and Research confirmed that funds were utilized as per the Offer Document. Total utilized amount is ₹251.95 crore, with ₹11.58 crore unutilized.
This is a routine monitoring report confirming adherence to previous disclosures. While positive, it does not introduce new material information that would significantly impact the company's valuation or operations.
The company reported no deviation in the utilization of funds raised through the rights issue, which is a positive sign for financial transparency and adherence to stated objectives.
Sadhana Nitrochem Limited has submitted its second Monitoring Agency Report for the quarter ended June 30, 2026, concerning the utilization of funds raised through its Rights Issue. The report, issued by Acuite Ratings and Research Limited, confirms that there has been no deviation or variation in the utilization of these funds as per the disclosures made in the Offer Document.
The total issue size was ₹263.53 crore. The funds were allocated across various heads including Inter-Corporate Deposit (₹131.98 crore), Promoters Loan (₹81.00 crore), Term Loan (₹6.18 crore), Long-Term Working Capital (₹16.09 crore), General Corporate Purposes (₹27.00 crore), and Issue Related Expenses (₹1.28 crore).
As of June 30, 2026, the total utilized amount stood at ₹251.95 crore, with an unutilized amount of ₹11.58 crore. The utilization for Inter-Corporate Deposit is complete, while minor unutilized balances remain for Promoters Loan (₹0.24 crore), Term Loan (₹0.14 crore), Long-Term Working Capital (₹4.04 crore), and General Corporate Purposes (₹4.27 crore). The Issue Related Expenses are fully utilized.
The Audit Committee of the company has reviewed the report. The company also confirmed that no deviation from the objects disclosed in the offer document was observed, and there has been no change in the means of finance. The company's website will also host this report.
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Sadhana Nitrochem Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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