MITCON Consultancy & Engineering Services Limited — Others, 12-11-2024: Utilisation of Funds

MITCON Consultancy & Engineering Services Limited has submitted a statement regarding the utilization of proceeds from its recent rights issue of partly paid-up shares. The gross proceeds amounted to ₹3,223.40 Cr, with net proceeds of ₹3,173.40 Cr after deducting issue-related expenses. As of September 30, 2024, the company has allocated funds primarily for investments in its wholly owned subsidiary, MITCON Sun Power Limited, and the joint venture, MITCON Nature Based Solutions Limited. Overall, there have been no deviations from the proposed utilization detailed in the offer documents.