Fredun Pharma: No Deviation in Preferential Issue Funds for Q1 FY27

Fredun Pharmaceuticals Ltd has confirmed no deviation or variation in the utilization of funds raised through a Preferential Issue for the quarter ended June 30, 2026. The company raised ₹111.53 Crore and has submitted a statement to this effect, approved by the Audit Committee and Board of Directors. A Monitoring Agency Report from CARE Ratings Limited, dated August 14, 2026, also indicates no deviation, although it noted observations on expenditure classification, documentation, fund routing, and reconciliation of unutilized proceeds. The company provided explanations for these classifications, considering them within the disclosed objects.