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Sobha Limited has shared an ICRA monitoring report on the utilization of proceeds from its Rs. 1,999 Cr Rights Issue. So far, Rs. 1,485.6 Cr has been deployed toward reducing borrowings, funding ongoing and new projects, purchasing equipment, and acquiring land parcels, with Rs. 513.4 Cr held mostly in fixed deposits earning 4.75% to 7.8% interest. The deployment is on track with stated objectives and shows no issues affecting project progress, reflecting disciplined fund management that supports the company’s growth and shareholder interests.