JOJO Ltd Confirms No Deviation in Utilization of Preferential Issue Proceeds

JOJO Ltd has filed a statement confirming no deviation or variation in the utilization of proceeds from its recent preferential issue of convertible warrants. The company raised ₹27 crore, representing 75% of the total consideration, for the issuance of 1 crore warrants at ₹40 each. The funds are intended for working capital requirements and general corporate purposes. The Audit Committee has reviewed and confirmed the absence of any deviation in the utilization of these funds as per the original objects disclosed to shareholders. The total amount raised under the preferential issue is ₹40 crore.