Business Update4 Jun 2026, 11:11 pm
Balu Forge: No Deviation in Preferential Issue Fund Use for Q4 FY26
AI Summary
Balu Forge Industries Ltd has filed a statement confirming no deviation or variation in the utilization of funds raised through preferential issues during the quarter ended March 31, 2026. The company raised a total of ₹12,663 lakhs across three preferential issues on February 9, February 25, and March 6, 2026. The funds were allocated to the purchase and installation of plant and machinery, working capital requirements, and general corporate purposes, with actual utilization aligning with the stated objectives. The Audit Committee reviewed and approved the statement.
Key Highlights
- No deviation reported in the use of funds from preferential issues for Q4 FY26.
- Total funds raised via preferential issues: ₹12,663 lakhs.
- Funds allocated to plant machinery, working capital, and general corporate purposes.
- Audit Committee approved the statement of fund utilization.
- Monitoring agency: Infomerics Valuation and Rating Pvt. Ltd.
Price Impact
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