The company hereby informs the stock exchange about the Statement of Deviaiton and Variation for the Quarter and year ended March 31, 2026
AERONEU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Aeroflex Neu Limited (formerly Sah Polymers Limited) has filed its quarterly and annual statement of fund utilization for the Rs. 6,480 Lakhs raised through preferential allotment of convertible warrants on July 25, 2025. The company reports NO deviation or variation in the use of funds. Out of the total raised, only Rs. 1,620 Lakhs (25%) has been received so far as per warrant terms, with the remaining Rs. 4,860 Lakhs (75%) due upon conversion within 18 months. Of the received amount, only Rs. 13.08 Lakhs has been utilized so far—primarily for working capital (Rs. 2.75 Lakhs) and issue expenses (Rs. 10.33 Lakhs). Major planned objects like IT Park/AI Park development (Rs. 4,000 Lakhs) and general corporate purpose (Rs. 1,255 Lakhs) show zero utilization. The Audit Committee reviewed the statement with no comments.
For shareholders: The low utilization is not a red flag as only one-quarter of the warrant proceeds have been received. However, investors should monitor whether meaningful deployment begins as remaining funds are received, especially for the core IT Park/AI Park project. The company has been compliant with SEBI disclosure requirements.