Statement on Deviation or Variation of fund under Regulation 32 of SEBI(LODR),2015
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Awaiting price reaction for this filing.
Concord Control Systems has submitted a statement to BSE confirming that the full amount of Rs. 50.00 Crores raised through a Preferential Allotment (approved by shareholders on September 30, 2024) has been completely utilized as of March 31, 2025. The company has confirmed there is no deviation or variation in how the proceeds have been used, as per SEBI's Regulation 32 reporting requirement. This is a routine half-yearly compliance filing covering the period ended March 31, 2025, signed by the Company Secretary Puja Gupta.
The full and on-track utilization of the Rs. 50 Crore preferential issue proceeds without any deviation is a neutral-to-positive signal for investors, suggesting disciplined capital deployment as promised. Since this is a regulatory compliance statement rather than new information, it is unlikely to trigger a meaningful stock price reaction.