Escorts Kubota Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Escorts Kubota has filed a quarterly compliance statement confirming that there is no deviation or variation in the use of proceeds from its preferential issue. The company had raised Rs. 1,872.745 crore on February 18, 2022 through preferential issues, with net proceeds of Rs. 1,855.306 crore earmarked for expanding its agri-machinery business, including tractors, combine harvesters, rice transplanters, utility vehicles, and related equipment. During the quarter ended September 30, 2025, the company utilized Rs. 293.251 crore towards this stated purpose. The Audit Committee reviewed the statement and had no comments. No monitoring agency was appointed for this issue.
This is a routine compliance filing that signals good corporate governance and disciplined use of investor funds. No deviation means the company is deploying the 2022 preferential issue proceeds as originally promised, which is a neutral-to-positive signal for shareholders but unlikely to move the stock price.