Company Update

Riddhi Corporate Services Limited has announced there is no deviation in the utilization of funds raised from its 2017 public issue (Rs. 12.35 Cr) and 2023 preferential issue (Rs. 0.70 Cr). Funds raised for acquisitions, capital expenditure, and general corporate purposes remain unutilized but are held with the company as planned, while public issue expenses have been fully utilized.

The Audit Committee reviewed and confirmed the proper use of the issue proceeds, ensuring transparency and alignment with the original objectives, which supports confidence in the company’s fund management.