The Byke Hospitality Reports No Deviation in Use of Preferential Issue Proceeds

The Byke Hospitality Limited confirmed no deviation or variation in the use of proceeds raised through preferential issue of equity warrants from stated objectives. The company raised Rs. 54.95 crores in funds, with allotments on January 4, 2024 (Rs. 32 crores) and March 1, 2024 (Rs. 22.95 crores). As of September 30, 2025, Rs. 6.02 crores remained unutilized. The funds were allocated for repayment of borrowings (Rs. 9.07 lakhs utilized) and general corporate purposes (Rs. 39.86 lakhs utilized). Unutilized proceeds of Rs. 6.02 crores are deployed in fixed deposits with Yes Bank (Rs. 4.75 crores earning 8% returns) and UBI (Rs. 1.27 crores earning 6.60% returns), with current market values of Rs. 5.34 crores and Rs. 1.29 crores respectively.

The Byke Hospitality Limited Schedules Board Meeting for Quarterly Results Review

The Byke Hospitality Limited has announced a board meeting scheduled for November 11, 2025, to consider and approve the company's un-audited financial results for the quarter and half-year ended September 30, 2025. The board will also adopt the Limited Review Report of the Auditors. The company has implemented a trading window closure for dealing in company securities starting from October 1, 2025, which will remain closed until 48 hours after the declaration of the financial results, in compliance with insider trading regulations.

The Byke Hospitality Reports No Deviation in Use of Rs 54.95 Crore Preferential Issue Proceeds

The Byke Hospitality Limited confirmed no deviation in the utilization of Rs 54.95 crore raised through preferential issue of equity warrants from the stated objectives. The funds were allocated for repayment of borrowings (Rs 9.07 crore utilized) and general corporate purposes (Rs 37.68 crore utilized). The company raised funds across three tranches - Rs 13.84 crore in January 2024, Rs 22.95 crore in March 2024, and Rs 18.16 crore in July 2024. As of June 30, 2025, Rs 8.20 crore remained unutilized and was deployed in fixed deposits with Yes Bank earning 8% returns. The audit committee and auditors provided no comments on the fund utilization.