Regulatory25 May 2026, 08:32 pm
Coromandel Engineering: No Deviation in Preferential Issue Proceeds
AI Summary
Coromandel Engineering Company Ltd confirms no deviation or variation in the use of proceeds from the allotment of 16,49,840 equity shares as per Regulation 32 of the SEBI Listing Regulations for the quarter and year ended March 31, 2026. The Audit Committee reviewed and approved this statement on May 25, 2026. Funds utilized during the quarter amounted to ₹5,14,199.54 out of the ₹6,60,76,092 raised through a preferential issue.
Key Highlights
- No deviation in use of preferential issue proceeds confirmed by Coromandel Engineering.
- Audit Committee approved the statement on May 25, 2026.
- ₹5,14,199.54 utilized from ₹6,60,76,092 raised via preferential issue.
- Funds allocated towards General Corporate purposes and upcoming projects.
- Statement adheres to Regulation 32 of SEBI Listing Regulations.
Price Impact
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