Clarification29 Oct 2026, 08:51 pm
Ind-Swift Labs Confirms No Deviation in Preferential Issue Fund Utilization
AI Summary
Ind-Swift Laboratories Ltd has confirmed that there has been no deviation or variation in the utilization of funds raised through its preferential issue of 2,60,00,000 Fully Convertible Warrants allotted on August 30, 2024. The company has fully utilized the proceeds of ₹255.61 Crores. A portion of the land purchased for a formulation facility was found unsuitable and subsequently sold, with the proceeds being utilized as per the approved objects. The Audit Committee has reviewed and approved a Nil Statement of Deviation for the quarter ended September 30, 2026.
Key Highlights
- No deviation in utilization of funds from preferential issue of warrants.
- Company has fully utilized the raised proceeds of ₹255.61 Crores.
- Land purchased for facility was sold, proceeds utilized as per objects.
- Audit Committee reviewed and approved Nil Statement of Deviation.
- No further Statement of Deviation required henceforth.
Price Impact
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