Escorts Kubota: No Deviation in Preferential Issue Fund Use

Escorts Kubota Limited has confirmed that there is no deviation or variation in the utilization of funds raised through preferential issues as of September 30, 2026. The company raised Rs. 1,872.745 Crores on February 18, 2022, primarily for the expansion of its agri-machinery business. The statement, reviewed by the Audit Committee, indicates that the funds were utilized as per the original objects, with Rs. 1,234.585 Crores utilized for the expansion of agri-machinery manufacturing, assembly, sales, marketing, financing, servicing, and research and development. Net proceeds after deducting issue expenses of Rs. 17.440 Crores were Rs. 1,855.306 Crores.