Astec LifeSciences confirms no deviation in rights issue fund use

Astec LifeSciences Limited announced on October 29, 2025, that there were no deviations or variations in the utilization of proceeds from its Rights Issue of equity shares for the quarter ended September 30, 2025. This statement was made in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. India Ratings & Research Private Limited, the monitoring agency, confirmed this finding.

The company raised Rs.23,762.56 Lakh through the Rights Issue, which was allotted on July 29, 2025. The total issue size was Rs.24,934.89 Lakh, but 1,31,722 Rights Equity Shares were not subscribed, leading to the actual amount received.

The utilized funds include Rs.10,200.00 Lakh for the prepayment/repayment of outstanding borrowings and Rs.13,562.56 Lakh for the repayment/redemption of commercial papers. The original allocations for these purposes were Rs.10,200.00 Lakh and Rs.14,500.00 Lakh, respectively. No funds were utilized for General Corporate Purposes or Issue Related Expenses in the reported quarter.