Ganesh Benzoplast: No Deviation in Preferential Issue Funds, 1 Object Changed

Ganesh Benzoplast Limited submitted its Regulation 32 Statement for the quarter ended March 31, 2026, regarding the utilization of funds raised through preferential issues. The company confirmed no deviation or variation in the use of proceeds from a preferential issue dated March 1, 2024, which raised ₹32.40 crores. However, for another preferential issue dated January 12, 2024, which raised ₹30.35 crores, there was a deviation. This deviation was due to a change in the objects of the issue, approved by shareholders on September 25, 2025. The original object for this issue was LPG business expansion and general corporate requirements, which was modified to include infrastructure for handling liquids/gases, broader business expansion, capital expenditure, and working capital. As of March 31, 2026, ₹22.91 crores from this ₹30.35 crore issue have been utilized.