Reg 32(1) (3) Statement of deviation and variation
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Awaiting price reaction for this filing.
ASM Technologies has submitted a quarterly compliance filing confirming there is no deviation or variation in the use of proceeds from its earlier fund raises. The company raised Rs. 170 Crores through a Preference Issue on March 8, 2024 and Rs. 11.50 Crores through a Rights Issue in March-April 2022, both earmarked for long-term working capital needs. So far, the company has utilized Rs. 70.87 Crores from the Preference Issue and Rs. 11.29 Crores from the Rights Issue, with monitoring handled by CRISIL Rating Limited. Additionally, the company forfeited 25,792 partly paid-up rights equity shares from shareholders who failed to pay outstanding amounts, and allotted 8,00,000 equity shares at Rs. 470.70 each (including a premium of Rs. 460.70) on a preferential basis.
This is a routine regulatory disclosure confirming fund usage is on track with the stated purpose, with no negative flags for shareholders. Investors may note that only about 42% of the Preference Issue proceeds have been deployed so far, which is worth tracking in future quarterly updates.