Regulatory12 Aug 2026, 05:04 pm
Coromandel Engineering: No Deviation in Preferential Issue Proceeds
AI Summary
Coromandel Engineering Company Ltd has confirmed no deviation or variation in the utilization of proceeds from its preferential allotment of 16,49,840 equity shares on May 8, 2025. The statement covers the quarter ended June 30, 2026, and has been reviewed and approved by the Audit Committee. The funds raised were ₹6,60,76,092, allocated towards general corporate purposes, upcoming projects, and execution of guarantees and advances. No modifications to the original objects or utilization amounts were reported.
Key Highlights
- No deviation reported in the use of preferential issue proceeds.
- Funds raised were ₹6,60,76,092 for general corporate and project purposes.
- Audit Committee reviewed and approved the utilization statement.
- Statement covers the quarter ended June 30, 2026.
- No changes to original allocation or utilization amounts.
Price Impact
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