Walchandnagar Industries: No deviation in fund utilization for Q2 FY27
Walchandnagar Industries Limited has confirmed that there is no deviation or variation in the use of proceeds raised through a Preferential Issue from the objects stated in the "Letter of Offer"/EGM Notice. The statement, reviewed by the Audit Committee on November 02, 2026, covers the quarter ended September 30, 2026. Funds were raised via Issue of Fully Convertible Equity Warrants on Preferential Basis on November 03, 2023, totaling ₹247.59 crores. Of this, ₹216.00 crores was raised and received, while ₹31.59 crores was adjusted towards conversion/appropriation of an outstanding loan. The company reported no deviation in the utilization of funds across various objectives including loan repayment, working capital, and capital expenditure.
Key Highlights
- No deviation reported in the utilization of funds from Preferential Issue.
- ₹216.00 crores raised and received; ₹31.59 crores adjusted for loan.
- Audit Committee reviewed and confirmed no deviation for Q2 FY27.
- Funds utilized for loan repayment, working capital, and capital expenditure.
- No changes in the original objects for fund utilization.
Price Impact
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