Balu Forge Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Balu Forge Industries has filed a quarterly Reg. 32 statement confirming no deviation in the use of funds raised through three preferential issues. The March 19, 2025 issue of Rs. 1,824.52 lakhs has been fully utilised — Rs. 1,368.39 lakhs for working capital and Rs. 456.13 lakhs for general corporate purposes. The April 3, 2025 issue of the same size has been partly deployed, with Rs. 1,144.39 lakhs used for working capital and Rs. 416.10 lakhs for general corporate purposes. The largest issue on May 24, 2025 raised Rs. 5,130.00 lakhs, of which Rs. 680 lakhs has gone into plant and machinery, Rs. 260 lakhs into working capital, and nothing yet into general corporate purposes. The audit committee reviewed and approved the statement on August 7, 2025, with Infomerics Valuation and Rating as the monitoring agency.
Positive compliance signal for shareholders — all preferential issue proceeds are being used in line with the originally stated objects, with no misuse or reallocation. The partial deployment in the recent Rs. 51.30 crore issue is normal for freshly raised capital and points to ongoing capex and working capital expansion.