Aeroflex Neu Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
AERONEU · price
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Aeroflex Neu Limited (formerly Sah Polymers Limited) has filed its statement of utilisation of funds raised through allotment of convertible warrants on a preferential basis. The company raised Rs. 6,480 Lakhs in July 2025, but as of March 2026, only Rs. 13.08 Lakhs (roughly 0.2%) has been utilised. The funds were allocated across four objects: IT Park/AI Park development (Rs. 4,000 Lakhs), working capital (Rs. 1,200 Lakhs), issue expenses (Rs. 25 Lakhs), and general corporate purpose (Rs. 1,255 Lakhs). No deviation or variation in the use of funds has been reported. Notably, only 25% of the issue price (Rs. 1,620 Lakhs) has been received so far, with the remaining 75% (Rs. 4,860 Lakhs) payable upon warrant conversion within 18 months.
The filing shows no deviation, which is positive from a compliance standpoint. However, the extremely low utilisation rate (0.2%) suggests the company is still in early deployment stages and shareholders should monitor progress on the IT Park and AI Park development going forward.