Beta Drugs Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Beta Drugs Limited has confirmed to the stock exchange that there is no deviation or variation in the use of proceeds raised through its preferential issue (private placement done in November 2024) during the half year ended March 31, 2025. The total funds raised were Rs 117 crore, of which only Rs 10.96 crore (roughly 9.4%) has been utilized so far. Spending has gone toward facility upgrades at its subsidiaries Adley Formulations (Rs 2.25 cr) and Adley Lab (Rs 1.35 cr), a new R&D facility (Rs 0.95 cr), capital expenditure for a new manufacturing setup (Rs 0.63 cr), and general corporate purposes (Rs 5.78 cr). The statement was reviewed by the Audit Committee and approved by the Board on May 15, 2025.
This is a routine regulatory compliance filing with no negative surprises — funds are being used as originally disclosed to shareholders. However, investors may note that deployment is slow, with over 90% of the Rs 117 crore yet to be utilized, particularly for large-ticket items like geographical expansion and capital investments which have seen zero spending so far.