Escorts Kubota Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
ESCORTS · price
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Escorts Kubota Limited has filed a compliance statement confirming no deviation in the use of proceeds from its preferential issue raised in February 2022. The company raised Rs. 1,872.745 crores, with net proceeds of Rs. 1,855.306 crores after deducting issue-related expenses of Rs. 17.440 crores. For the quarter ended March 31, 2026, Rs. 545.219 crores has been utilized for the stated objective of expanding the agri-machinery business, including manufacturing of tractors, combine harvesters, utility vehicles, construction machinery, engines, and related components. The Audit Committee has reviewed and confirmed no deviations.
Positive signal for shareholders as the company has deployed funds as intended without any deviation from the original objects. The partial utilization (Rs. 545.22 crores of Rs. 1,855.31 crores) indicates ongoing capital deployment in the agri-machinery expansion program.