Statement of Deviation and Variation for Quarter ended 31st March, 2025
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Awaiting price reaction for this filing.
Ahmedabad Steelcraft Ltd has filed a quarterly compliance statement confirming there was no deviation or variation in the use of funds raised through a preferential issue of warrants. The company raised Rs. 5,642.55 Lacs (out of a total Rs. 7,920 Lacs) on September 30, 2024, and the entire raised amount has been utilized during the quarter. The funds were used as originally planned for funding expansion plans, working capital requirements, and general corporate purposes. Both the Audit Committee and auditors had no comments to make, indicating full compliance with disclosed objectives.
This is a routine compliance filing with a positive clean report — there is no misuse or diversion of investor funds, which reassures shareholders that management is using raised capital as promised. No direct material impact on stock price is expected from this disclosure.