Statement of deviation and Variation for the quarter ended 30th June,2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Azad India Mobility Ltd has filed a compliance statement confirming there is no deviation or variation in the use of funds raised through a preferential issue on 20th May 2025. The company raised Rs. 52.11 Crores for a combination of capital expenditure, growth plans, working capital, loan repayment, investments, and general corporate purposes. Out of the total Rs. 52.11 Crores raised, the company has utilized Rs. 10 Crores during the quarter ended 30th June 2025. The remaining funds are yet to be deployed. The audit committee and auditors have not raised any comments, and no monitoring agency was appointed for this issue.
This is a routine regulatory disclosure confirming that the company is using the preferentially issued funds in line with the originally stated purpose. No negative signal for shareholders as there is no deviation; however, the low utilization (about 19% of raised amount) in the first quarter suggests the bulk of deployment will happen in upcoming quarters.