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Ambo Agritec Limited has filed a quarterly compliance statement confirming that there is no deviation or variation in the use of proceeds from its preferential issue. The company had raised ₹15.39 crore on June 20, 2024 through a preferential issue of convertible warrants, earmarked for working capital purposes. The entire amount of ₹15.39 crore has been fully utilized for the stated object. The Audit Committee reviewed the statement and gave a favorable remark, noting the company is in compliance with SEBI requirements. The auditors had no comments to add. No monitoring agency was applicable for this issue.
This is a routine regulatory compliance filing with no material impact on the stock price. It reassures shareholders that the company used the ₹15.39 crore raised through the preferential issue exactly as promised for working capital, reflecting good corporate governance and fund management discipline.