Corporate Governance4 Nov 2026, 05:00 pm
Cospower Engineering: No Deviation in Preferential Issue Fund Use
AI Summary
Cospower Engineering Limited has submitted its Statement of Deviation or Variation for the half-year ended September 30, 2026. The company confirms there has been no deviation or variation in the utilization of proceeds from its preferential issue of Equity Shares to non-promoters. Funds raised on March 29, 2025 (₹7,58,70,000) and February 9, 2026 (₹16,03,80,000) were allocated to business expansion, working capital, and general corporate purposes, with actual utilization matching the original allocations. The filing adheres to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- No deviation reported in the use of funds from preferential share issuance.
- Funds were utilized for business expansion, working capital, and general purposes.
- The company has complied with SEBI's LODR Regulations.
- Two separate preferential issues were made to non-promoters.
Price Impact
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