Aeroflex Neu Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
AERONEU · price
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Awaiting price reaction for this filing.
Aeroflex Neu Limited has submitted to the exchanges a quarterly statement confirming there has been no deviation or variation in the use of funds raised through the allotment of convertible warrants on a preferential basis on 25 July 2025. The total amount raised was Rs. 6,480 lakhs, of which only the initial 25% (Rs. 1,620 lakhs) has been received so far, with the remaining Rs. 4,860 lakhs due upon conversion of warrants into equity shares within 18 months. The original allocation includes Rs. 4,000 lakhs for a Plug and Play Office / AI Park / IT Park project, Rs. 1,200 lakhs for long-term working capital, Rs. 25 lakhs for issue expenses, and Rs. 1,255 lakhs for general corporate purposes. During the quarter, only Rs. 13.08 lakhs was utilised, mostly for issue expenses and a small portion of working capital. The Audit Committee and Board reviewed the statement and had no comments.
This is a routine compliance filing confirming funds are being used as originally disclosed to shareholders, which is neutral for the stock. However, the very low utilisation against stated objectives (Rs. 13.08 lakhs of Rs. 1,620 lakhs received) means investors will be watching for progress on the flagship Plug and Play / AI Park project, which still has nearly 3 years left under the 18-month warrant conversion window.