Statement of Deviation and Variation for the period ended 31st March,2025
Price
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Awaiting price reaction for this filing.
Azad India Mobility Ltd has confirmed there is no deviation or variation in the use of proceeds raised through its Preferential Issue. The company raised Rs. 53.00 crores on February 28, 2024, of which Rs. 36.96 crores was earmarked for capital expenditure, growth plans, working capital, loan repayment, investments, and general corporate purposes. The full allocated amount of Rs. 36.96 crores has been utilized as per the original objects stated in the Private Placement Offer Letter. The Audit Committee reviewed and approved this statement on May 21, 2025. No monitoring agency was appointed for this fund raise.
This is a routine compliance filing confirming that the company used its preferential issue funds exactly as promised to shareholders. There is no negative implication for the stock; it simply demonstrates disciplined use of capital.