Business Update15 May 2026, 06:21 pm
Walchandnagar Industries: No Deviation in Preferential Issue Proceeds
AI Summary
Walchandnagar Industries Ltd. confirms no deviation or variation in the use of proceeds raised through a preferential issue for the quarter ended March 31, 2026. The funds, raised on November 3, 2023, were allocated for various purposes, including repayment of loans, capital expenditure, and working capital. ICRA Limited is the monitoring agency. The company confirms that the utilization of funds aligns with the objects stated in the Letter of Offer/EGM Notice.
Key Highlights
- No deviation in the use of preferential issue proceeds.
- ₹216 Cr raised from investors, ₹31.59 Cr adjusted towards loan conversion.
- Funds utilized for loan repayment, capital expenditure, and working capital.
- Audit Committee reviewed and confirmed no deviation for the quarter ended March 31, 2026.
Price Impact
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