Corporate Governance7 May 2026, 06:11 pm
Escorts Kubota: No Deviation in Preferential Issue Proceeds
AI Summary
Escorts Kubota Ltd. reported no deviation or variation in the use of proceeds from its preferential issues as of March 31, 2026. The funds raised on February 18, 2022, amounted to ₹1,872.745 Crores and were allocated for the expansion of its agri-machinery business. The Audit Committee reviewed the statement, confirming that the funds were utilized as originally intended, with ₹545.219 Crores utilized and no deviation reported.
Key Highlights
- Escorts Kubota confirms no deviation in use of preferential issue proceeds.
- ₹1,872.745 Crores raised via preferential issues on February 18, 2022.
- Funds allocated for agri-machinery business expansion.
- Audit Committee reviewed and confirmed no deviation in fund utilization.
- ₹545.219 Crores utilized as of March 31, 2026, with no deviations.
Price Impact
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