Statement Of Deviation or variation in Use of Right Issue Proceed is enclosed
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Awaiting price reaction for this filing.
Ashapuri Gold Ornament Limited has confirmed that there is no deviation or variation in the use of funds raised through its Right Issue conducted on June 5, 2024. The company had raised Rs. 4874.73 Lakhs in total and has fully utilized the entire amount during the financial year ended March 31, 2025. The funds were allocated as follows: Rs. 4107 Lakhs for Working Capital Requirements, Rs. 642.727 Lakhs for General Corporate Purposes, and Rs. 125 Lakhs for Public Issue Expenses. The Audit Committee reviewed the statement at its meeting held on May 26, 2025, and raised no comments, confirming that the utilization is in line with the originally disclosed objects.
This is a routine compliance filing confirming that the company has used right issue proceeds as originally planned, with no misuse or deviation. For shareholders, this signals good corporate governance and disciplined fund utilization, though there is no direct positive or negative impact on the stock price.