Statement on deviation or variation of funds under Regulation 32 of SEBI (LODR) Regulations, 2015
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Duroply Industries has filed its quarterly compliance statement confirming that there is no deviation or variation in the use of funds raised through a preferential issue. The company raised Rs. 14,99,99,744 (approximately Rs. 15 crore) on September 25, 2025, through the conversion of 9,85,220 warrants into equity shares. The entire amount has been utilised towards working capital requirements and general corporate purposes, which was the original stated objective. The Audit Committee reviewed the statement on January 30, 2026, and had no comments. No monitoring agency was required for this issue, and auditors also had no comments to add.
This is a routine compliance filing with no negative implications. It reassures shareholders that the Rs. 15 crore raised through warrant conversion has been deployed as originally disclosed, with full transparency and no misuse or diversion of funds.