Regulatory12 Aug 2026, 04:10 pm
Chemtech Industrial Valves: No Deviation in Warrant Fund Utilization
AI Summary
Chemtech Industrial Valves Ltd has declared that proceeds raised from the conversion of warrants into equity shares during the quarter ended June 30, 2026, were utilized as per the original offer document. The company confirmed no material deviation in the use of funds, which amounted to ₹7.50 crore upon conversion on March 27, 2026. The total amount raised, including earlier receipts, stands at ₹57.25 crore. The Audit Committee reviewed and noted this statement, confirming adherence to the stated objects for the funds.
Key Highlights
- No deviation reported in the utilization of funds from warrant conversion.
- Proceeds were used for purposes stated in the offer document.
- Audit Committee reviewed and approved the fund utilization statement.
- Total funds raised via warrant conversion and prior receipts amount to ₹57.25 crore.
Price Impact
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