Corporate Governance12 Aug 2026, 03:37 pm
Man Infraconstruction: No Deviation in Preferential Issue Fund Use
AI Summary
Man Infraconstruction Ltd has filed a Statement of Deviation or Variation for the quarter ended June 30, 2026. The company confirms no deviation or variation in the utilization of proceeds from its preferential issue of convertible warrants. The funds raised, amounting to ₹512.64 crore on January 23, 2024, were used for expanding EPC and real estate business, acquiring new projects, purchasing fixed assets, and deployment towards working capital. The Audit Committee reviewed and approved the statement, finding no comments. The auditors also provided no comments.
Key Highlights
- No deviation reported in the use of funds from preferential issue.
- Funds were utilized for business expansion and working capital.
- Audit Committee and auditors have reviewed and approved the statement.
- Report covers utilization for the quarter ended June 30, 2026.
Price Impact
More from MANINFRA