Please find enclosed herewith the Statement of Deviation pursuant to Regulation 32 of SEBI (LODR) Regulations, 2015
ASHIKA · price
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Awaiting price reaction for this filing.
Ashika Credit Capital Ltd has filed its quarterly compliance statement under SEBI LODR Regulation 32 confirming there is NO deviation or variation in the use of funds raised through its preferential issue. During Q1 FY26, 50,82,664 convertible warrants were converted into equity shares at Rs 306 each (Rs 10 face value + Rs 296 premium) — 32,27,700 shares allotted on 10 April 2025 and 18,54,964 shares allotted on 2 May 2025. Total fresh proceeds received in the quarter stood at Rs 116.63 crores (Rs 74.08 crores + Rs 42.55 crores), taking cumulative receipts to Rs 329.11 crores out of the originally proposed Rs 330.48 crores. Of this, Rs 286.56 crores has been deployed till date, mainly into investment in shares & securities (Rs 199.11 crores), with the balance earmarked for working capital, debt repayment, and a loan to group company Ashika Stock Broking. Additionally, 59,536 warrants (worth Rs 1.37 crores) were forfeited after holders failed to exercise them within the stipulated time. Acuite Ratings & Research Limited is acting as the monitoring agency.
Positive for governance: no fund misuse detected, and utilisation is on track as per stated objects. Mild equity dilution for existing shareholders from the ~50.83 lakh warrant conversions, though this was already disclosed at the time of the preferential issue.