Statement on Deviation or Variation of funds under Regulation 32 of SEBI (LODR) Regulations, 2015 is enclosed
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Duroply Industries has filed a Regulation 32 statement confirming that during the quarter ended 30th September 2025, the company received Rs. 14,99,99,744 (approximately Rs. 15 crore), representing 75% of the warrant application monies towards the conversion of 9,85,220 share warrants into equity shares. The funds were raised through a preferential issue mode. The Audit Committee reviewed and approved the statement on 14th November 2025, and noted no deviation or variation in the use of funds, with proceeds intended for general corporate purposes.
The conversion of 9,85,220 warrants into equity shares will increase the company's paid-up equity share capital, which may lead to dilution for existing shareholders. However, the company has confirmed that the use of funds is in line with the originally stated purpose (general corporate purposes), with no deviation reported.