Walchandnagar Industries: No Deviation in Preferential Issue Fund Use for Q1 FY27

Walchandnagar Industries Ltd has filed a statement confirming no deviation or variation in the utilization of proceeds from its Preferential Issue for the quarter ended June 30, 2026. The funds were raised through the issue of Fully Convertible Equity Warrants on a preferential basis on November 3, 2023. A total of ₹247.59 crores was to be raised, with ₹216.00 crores already received and ₹31.59 crores adjusted against outstanding loans. The company's Audit Committee reviewed and confirmed the utilization, which included repayment of promoter group loans, term loans, working capital, and capital expenditure. The report indicates that all allocated funds have been utilized as per the stated objects, with minor reallocations approved by the board, such as shifting funds from Capital Expenditure to Working Capital.