Confidence Petroleum India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
CONFIPET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Confidence Petroleum India Limited has filed a routine compliance statement confirming the utilization of funds raised through a preferential share allotment dated 15th February 2024. The company raised Rs. 250.11 crores and has utilized Rs. 249.09 crores across three segments: Capex for Auto LPG (Rs. 75 crs), Pack LPG Cylinder (Rs. 75 crs), and CNG (Rs. 75 crs), plus general corporate purposes (Rs. 24.09 crs used out of Rs. 25.11 crs allocated). There is no deviation or variation in the use of funds from the originally disclosed objects. Care Ratings Ltd acted as the monitoring agency. Only Rs. 1.02 crs of the general corporate purposes allocation remains unutilized.
Positive for shareholders as the filing confirms that funds from the preferential issue have been deployed as intended with no deviations, indicating proper capital deployment governance.