Balu Forge Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Balu Forge Industries has submitted a Regulation 32 compliance statement confirming there is no deviation or variation in the use of funds raised through its preferential issue. The company raised Rs. 2,700 lakhs (Rs. 27 crore) on December 30, 2025, and the entire amount was earmarked for general corporate purposes (capped at 25% of issue size as per stated objects). No portion of the funds was utilised during the quarter ended December 31, 2025. The statement was reviewed by the Audit Committee on February 12, 2026, with Infomerics Valuation and Rating Pvt. Ltd. acting as the monitoring agency. Zero allocation was made towards plant & machinery or working capital, with the full sum parked under the general corporate purposes head.
This is a routine quarterly compliance filing with no negative flag, as the company confirms proceeds are being used in line with the stated objects. However, investors may note that the entire Rs. 27 crore was classified under 'general corporate purposes' and none has been deployed yet in the quarter of raising, which could draw questions on deployment speed and specificity of use.