Submission of Statement of Deviation and Variation Report for the Quarter Ended 30th June 2025.
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Autoriders International Ltd has submitted its quarterly deviation/variation report to BSE regarding funds raised through a preferential allotment of equity shares on 31 December 2024, amounting to approximately Rs. 8.99 crore. The funds were earmarked for three purposes: Rs. 1.75 crore for loan repayment, Rs. 5 crore for business expansion, and Rs. 2.24 crore for general corporate purposes. As of 30 June 2025, the company has utilized only Rs. 3.83 crore, entirely towards business expansion, with no spending yet on loan repayment or general corporate purposes. The company confirms there is no deviation or variation from the stated objects, and the audit committee and auditors had no comments on the report.
This is a routine compliance filing confirming that raised funds are being used as originally disclosed, though utilization is currently slow — only about 43% deployed in six months, entirely into business expansion. For shareholders, this signals steady but limited deployment of capital with no misuse, but also means the full growth push from the preferential issue is still pending.