Corporate Governance3 Nov 2026, 06:02 pm
Narmadesh Brass: No Deviation in Fund Use for ₹3,259 Lakhs Preferential Issue
AI Summary
Narmadesh Brass Industries Ltd has filed a statement confirming no deviation in the utilization of funds raised through a preferential issue. The company raised ₹3,259 Lakhs (₹32.59 Crore) on January 21, 2026, via a Public Issue (SME). The funds were allocated for repayment of borrowings (₹1,450 Lakhs), purchase of machinery (₹329 Lakhs), working capital (₹1,020 Lakhs), and general corporate purposes (₹460 Lakhs). For the half-year ended September 30, 2026, all allocated funds have been utilized as per the original objects, with only ₹4.54 Lakhs remaining for general corporate purposes. The filing indicates full compliance with fund utilization norms.
Key Highlights
- No deviation reported in the use of ₹3,259 Lakhs raised via preferential issue.
- Funds were raised on January 21, 2026, through a Public Issue (SME).
- Allocations included debt repayment, machinery purchase, and working capital.
- Minimal ₹4.54 Lakhs unutilized for general corporate purposes.
- Company confirms adherence to fund utilization objectives.
Price Impact
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