Pursuant to the provisions of Regulation 32 of SEBI LODR Regulations, 2015, we hereby declare that there is no deviation from purpose stated in offer document in fund raised from conversion ....
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Chemtech Industrial Valves Ltd has filed a compliance statement confirming that funds raised through conversion of 5,00,000 warrants into equity shares on March 27, 2026 have been used for the stated purpose with no material deviation. The conversion was at ₹200 per share, with the final 75% tranche of ₹7.50 crore received on conversion. The aggregate proceeds of ₹57.25 crore were earmarked for long-term funding of capital expenditure, working capital, and general corporate purposes. The Audit Committee reviewed and noted the statement on May 30, 2026. No changes to the original objects or allocations were made.
No negative implications for shareholders — the company has complied with fund utilisation norms and confirmed proper end-use of the ₹7.50 crore raised from warrant conversion.