Pavna Industries: No Deviation in Preferential Issue Fund Use Q4 FY26

Pavna Industries Limited confirmed no deviation or variation in the use of proceeds from its preferential issue of Equity Shares & Fully Convertible Warrants for the quarter ended March 31, 2026. The company raised ₹210.70 crore on January 29, 2025. CARE Ratings Limited, the monitoring agency, reported no deviation. The original objects for fund utilization included issue-related expenses, working capital, general corporate purposes, and strategic acquisitions. Due to undersubscription, the total allocated amount was modified to ₹210.70 crore. As of March 31, 2026, ₹119.80 crore has been received, with the balance ₹90.90 crore from warrants expected within 18 months. No funds were utilized during the reported quarter. The Audit Committee reviewed the statement and had no comments.