Submission of Statement of Deviation and Variation for the half year and year ended March 31, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cospower Engineering Ltd has filed a statement confirming no deviation or variation in the use of proceeds from two preferential issues of equity shares to non-promoters. The first issue (March 2025) raised Rs. 7.59 crore through 1,40,500 shares at Rs. 540 per share, with funds allocated for business expansion/working capital (Rs. 2.50 crore), working capital requirements (Rs. 4.50 crore), and general corporate purposes (Rs. 58.70 lakh). The second issue (February 2026) raised Rs. 16.04 crore through 1,62,000 shares at Rs. 990 per share, allocated for capital expenditure including new projects and facility upgrades (Rs. 11.27 crore), working capital (Rs. 1 crore), and general corporate purposes (Rs. 3.77 crore). Both fund utilizations match the stated objects with negligible variance of Rs. 5,809.60 in the first issue.
Positive signal for shareholders as the company has properly utilized preferential issue proceeds as promised, with no fund diversion or deviation reported. This confirms proper governance and use of equity capital raised from non-promoter investors.