Statement of Deviation for the Quarter ended on June 30, 2025
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Ahmedabad Steelcraft Ltd has filed a compliance statement confirming there was no deviation or variation in the use of proceeds from its preferential issue of equity shares (arising from warrant conversion). During the quarter ended June 30, 2025, the company raised and utilised Rs. 2,277.45 Lacs out of a total preferential issue size of Rs. 7,920 Lacs (Rs. 5,642.55 Lacs had already been raised earlier). The funds are being used for the stated purpose of funding expansion plans, working capital needs, and general corporate purposes. No monitoring agency was appointed, and both the audit committee and auditors had no comments. A minor note mentions Rs. 3,00,000 lying in the share application/warrant account due to excess deposit.
This is a routine regulatory compliance filing under SEBI (LODR) Regulation 32 and does not indicate any concern. The 'Nil deviation' status confirms fund usage is in line with the originally disclosed objects, which is a neutral-to-positive signal of governance and disciplined capital deployment for shareholders.