Modern Dairies: No Deviation in Fund Use for Preferential/Warrant Issues
Modern Dairies Ltd has filed a Statement of Deviation and Variation for the quarter ended September 30, 2026, concerning funds raised through preferential issues and conversion of warrants. The company reported no deviation or variation in the utilization of funds raised from a preferential issue of ₹1075.00 Lakhs and from the conversion of warrants into equity shares amounting to ₹862.50 Lakhs and ₹1050.00 Lakhs. The funds were raised on March 13, 2025, March 20, 2025, and February 26-27, 2026, respectively. The stated purpose for these funds was to strengthen the capital base and for the company's operations. Both the Audit Committee and the Board of Directors reviewed the statement and found no comments.
Key Highlights
- No deviation reported in the utilization of funds from preferential and warrant issues.
- Funds were raised in March 2025 and February 2026.
- Purpose of funds was to strengthen capital base and for operations.
- Audit Committee and Board of Directors reviewed and approved the statement.
- Filing pertains to the quarter ended September 30, 2026.
Price Impact
More from MODAIRY