Saptak Chem and Business confirmed that funds raised from a preferential issue of 40 lakh convertible warrants, valued at 4.20 Cr at Rs. 10.50 each, have been utilized as intended.

The company had previously received 1.05 Cr as an initial 25% consideration.

Specifically, 1.57 Cr allocated for working capital and bank guarantee margin during the quarter was fully deployed as planned.

This update assures stakeholders that all funds are being used for their stated business objectives without any deviation.