Submission of statement of Deviation for the quarter ended 31st March, 2025
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Abate As Industries Ltd has filed a NIL statement of deviation or variation for the quarter ended March 31, 2025, as required under SEBI Listing Regulations. The company's Preferential Issue, dated February 25, 2025, was executed entirely through a share swap, meaning no actual cash funds were raised. There is no deviation or variation in the use of proceeds, and both the Audit Committee and auditors have recorded no comments. The original stated object for the issue was general corporate purposes, though no monetary allocation was applicable given the swap-based structure.
This is a routine compliance disclosure with no material impact on shareholders or the stock price. Since no fresh cash was raised and there is no deviation from the stated use of funds, the filing is purely procedural and confirms that the share-swap-based preferential allotment has been completed as planned.