Corporate Governance7 Aug 2026, 05:30 pm
Venmax Drugs: No Deviation in Preferential Issue Fund Use for Q1 FY27
AI Summary
Venmax Drugs and Pharmaceuticals Ltd has confirmed no deviation or variation in the utilization of funds raised through a Preferential Issue for the quarter ended June 30, 2026. The funds were raised via the issue of Fully Convertible Equity Warrants on a Preferential Basis on March 20, 2025. A total of ₹20.05 crores was to be raised, with ₹12.69 crores received against 63,44,000 warrants and ₹1.84 crores against 36,81,000 warrants. For the quarter, ₹8.37 crores were utilized for Working Capital and ₹0.20 crores for General Corporate Purpose and Business Acquisition. The Audit Committee reviewed and confirmed the utilization statement.
Key Highlights
- No deviation reported in the use of preferential issue funds for Q1 FY27.
- Funds raised via Equity Warrants on Preferential Basis in March 2025.
- Total funds raised to date amount to ₹14.53 crores.
- Utilizations include Working Capital and General Corporate Purposes.
- Statement reviewed by the Audit Committee.
Price Impact
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