Nibe Ordnance and Maritime Ltd — Updates, 23-05-2025: Company Update

Nibe Ordnance and Maritime Limited has announced that there is no deviation or variation in the utilization of Rs. 115.98 lakhs raised through its recent Rights Issue. Funds primarily supported expanding operations by setting up a new office (Rs. 48.71 lakhs used) and meeting issue expenses (Rs. 13.68 lakhs used). As of now, Rs. 53.59 lakhs remain unutilized in the company’s bank account. This reflects disciplined fund management aligned with the company’s stated growth objectives, reassuring stakeholders about the efficient deployment of capital.