Corporate Governance29 May 2026, 08:24 pm
Rudra Ecovation: No Fund Deviation in Preferential Allotment
AI Summary
Rudra Ecovation Ltd confirms no deviation or variation in the utilization of funds raised through preferential allotment of convertible warrants for the quarter ended March 31, 2026. The funds, totaling ₹89,99,88,000, were raised through the conversion of 2,07,65,000 warrants into equity shares and have been fully utilized for the stated purpose. This is the final statement of deviation, supported by a Statutory Auditor's certificate and reviewed by the Audit Committee and Board.
Key Highlights
- Rudra Ecovation confirms no deviation in fund utilization for Q4 2026.
- ₹89,99,88,000 raised via preferential allotment fully utilized.
- Funds used to acquire equity stake in Shiva Texfabs Limited.
- Statutory Auditor certified fund utilization as per offer document.
- Audit Committee and Board reviewed and approved the statement.
Price Impact
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