Statement of Deviation or Variation for the quarter ended 31.03.2026
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Ace Software Exports Limited has filed a compliance statement confirming no deviation or variation in the use of proceeds from its Rights Issue raised on December 19, 2025. The total Rights Issue size is Rs. 60.18 crore, but only Rs. 27.08 crore has been received as shares were issued on a partly paid-up basis; the balance Rs. 33.10 crore remains to be called. As of March 31, 2026, Rs. 14.85 crore (55% of received funds) has been deployed across various stated objectives including Rs. 3 crore in QeMFG Private Limited, Rs. 5.52 crore in Theia Education Private Limited, Rs. 2.80 crore in general corporate purposes, and Rs. 0.39 crore in issue expenses. The Audit Committee and auditors have confirmed no comments. A monitoring agency (Brickwork Ratings) has been appointed as applicable.
For shareholders, this filing provides assurance that the company is deploying rights issue funds strictly according to the Letter of Offer dated November 14, 2025, with no deviation detected. The low utilization (55% of received funds) reflects the early stage of deployment since the issue was only in December 2025.