We submit herewith statement of Deviation & variation under Reg 32 of SEBI LODR, 2015
DIAMINESQ · price
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Diamines & Chemicals Ltd has filed its quarterly statement under SEBI Regulation 32(1) for funds raised via preferential issue of convertible warrants. The company allotted 9,06,390 convertible warrants on October 1, 2024, at Rs. 552 per warrant, raising Rs. 12.51 crore (25% subscription money). On March 24, 2026, 2,69,402 equity shares were allotted upon conversion of warrants after receiving the balance Rs. 11.15 crore (75% of issue), bringing the total funds raised to Rs. 50.58 crore. The remaining warrants lapsed by March 31, 2026. The funds were earmarked for capital expenditures, working capital, acquisitions, technology investment, and general corporate purposes. No deviation or variation in the use of funds was reported, and both the audit committee and auditors had no comments.
The filing confirms successful partial conversion of warrants into equity, with no deviation in fund utilisation reported. The lapsing of unexercised warrants means not all subscribers converted, which is a neutral-to-slightly-cautious signal for shareholders as it indicates selective participation.