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As on : 14-Nov-2026
Corporate News
14-Nov-2026      16:12

Fredun Pharmaceuticals confirms Rs 128.78 crore preferential issue use, despite reporting observations

Fredun Pharmaceuticals Limited reported no deviation or variation in the utilization of Rs 128.78 crore raised through a preferential issue during the quarter ended September 30, 2026, according to a regulatory filing. Care Ratings Limited, the monitoring agency, noted observations regarding the reporting and reconciliation of fund utilization, classification of balances, and verification of funds, but the company maintains that the proceeds have been utilized for the objects approved by shareholders, with differences arising from varying treatments of Cash Credit account balances and reporting methods.

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