Statement of Deviation or Variation in the proceeds of Preferential issue pursuant to Reg 32 (1) of SEBI (LODR) Regulations, 2015 for the quarter ended 31.03.2025
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Ajcon Global Services Ltd has confirmed that there has been no deviation or variation in the use of funds raised through its preferential issue of 10,00,000 convertible warrants priced at Rs. 66 each, placed with non-promoters on a private placement basis. During Q4 FY25 (quarter ended 31.03.2025), the company received Rs. 1.65 crore, which represents the 25% subscription amount out of the total Rs. 6.60 crore warrant consideration. The funds were raised on 20.01.2025 and are being used for working capital requirements, business development, and technology upgradation as originally stated. The Audit Committee reviewed the utilisation in its meeting on 10.02.2025 and had no comments. No other fund-raising activity took place during FY25.
This is a routine compliance filing that reassures shareholders that the company has used the warrant proceeds strictly for the stated purposes. It carries no material positive or negative impact on the stock price, though it signals disciplined fund utilisation.