Cressanda Railway Solutions has confirmed that there was no deviation in the utilization of funds raised from its Rights Issue.

For the 2.46 Cr partly paid-up equity shares issued at Rs. 20 each, the Rs 24.65 Cr raised were used as stated in the offer document for general corporate purposes and working capital.

Similarly, for the conversion of 1.64 Cr partly-paid shares into fully-paid shares at Rs. 20 each, the Rs 16.41 Cr called up were also utilized as planned.

This update assures investors that the company is adhering to its stated financial plans for these capital raises.