Corporate Action28 May 2026, 08:48 pm
Aveer Foods: Preferential Issue Funds Utilized as Planned
AI Summary
Aveer Foods Limited reported on the utilization of funds raised through a preferential issue dated March 20, 2025, totaling ₹26,00,00,050. The company received 25% (₹625 lakhs) upfront by March 31, 2025, with the remaining 75% received upon warrant conversion by March 31, 2026. The funds were primarily allocated for the acquisition of M/s Kamal Industries (₹25,00,00,000) and working capital requirements (₹1,00,00,050). The company confirmed that as of March 31, 2026, there was no deviation or variation in the utilization of these funds, with the entire consideration used for the objects approved by shareholders.
Key Highlights
- Aveer Foods raised ₹26.00 Cr via preferential issue on March 20, 2025.
- Funds were primarily for M/s Kamal Industries acquisition and working capital.
- 25% received upfront, balance 75% upon warrant conversion by March 2026.
- No deviation reported in fund utilization as of March 31, 2026.
- Entire amount utilized as per shareholder-approved objects.
Price Impact
More from AVEER