TOMCL fully utilizes Rs 810mn right issue proceeds

The Organic Meat Company Limited, listed as TOMCL, has spent the full Rs 810 million raised through its rights issue, according to Mettis Global. The company reported that none of the proceeds remained unused, with each spending category matching the allocation previously set out.

Of the funds, Rs 350 million went to reducing bank debt carrying high costs, while Rs 260 million was invested in a beef tripe cooking and red offals processing unit. The remaining Rs 200 million supported working capital, equivalent to 43.21%, 32.1% and 24.69% of the proceeds, respectively. The disclosure was filed under Regulation 10(2) of the Companies (Further Issue of Shares) Regulations, 2020, relating to the rights issue completed on March 28, 2025.