Pursuant to Regulation 32(1), 32(2) and 32(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Gokaldas Exports has informed that there is no deviation or variation in the utilization of proceeds raised through Qualified Institutional Placement in the Financial Year 2018-19. The statement deviation or variation was reviewed by the Audit Committee at its meeting held on 29th July 2019. The Application money received towards the allotment of equity shares raised through qualified institutional placement was Rs 69.37 crores. As of the balance sheet date 31st March 2019, the Company has utilized Rs.33.87 crores towards modernization and automation of business infrastructures and the remaining Rs.35.50 crores was utilized for working capital finance of the Company.
The above information is a part of company’s filings submitted to BSE.
