Confidence Petroleum India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
CONFIPET · price
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Awaiting price reaction for this filing.
Confidence Petroleum India Limited has filed a quarterly statement on the utilisation of funds raised via a preferential issue of shares. The company had raised ₹250.11 crore on February 15, 2024, earmarked for capex in Auto LPG (₹75 Cr), Pack LPG Cylinder (₹75 Cr), CNG segment (₹75 Cr), and general corporate purposes (₹25.11 Cr). As of June 30, 2025, ₹159.56 crore (about 64% of the total) has been deployed across these four buckets, with ₹47.74 Cr, ₹47.24 Cr, ₹44.07 Cr, and ₹20.51 Cr utilised respectively. The company has reported no deviation or variation from the originally stated purpose, and Care Ratings Ltd is acting as the monitoring agency. Both the audit committee and auditors have no adverse comments on the fund use.
This is a routine SEBI compliance filing confirming that the company is using the preferentially-issued funds in line with what was originally approved by shareholders, signalling capital allocation discipline. The remaining ~₹90.55 crore is still available for the same capex purposes, which may support ongoing growth in LPG and CNG segments; near-term impact on the stock is neutral.