Just Dial Limited, a leading local search engine and online marketplace in India, has submitted a statement to the Bombay Stock Exchange (BSE), National Stock Exchange of India (NSE), and Metropolitan Stock Exchange of India (MSE) confirming that there has been no deviation or variation in the utilization of funds raised through its preferential issue in September 2021.
The company raised INR 2,164.88 crores through the preferential issue, and the funds were intended for capital expenditures, working capital requirements, acquisitions, and general corporate purposes. The statement, reviewed by the company's Audit Committee, confirms that the funds have been utilized in accordance with the original plan outlined in the fundraising document.
This announcement reinforces Just Dial's commitment to transparency and adherence to regulatory requirements. It provides reassurance to investors that the company is using the funds raised responsibly and in alignment with its stated objectives.
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