Declaration of non-applicability of Reg.30of the SEBI (LODR) Regulations,2015 (Statement of Deviation or Variation for the proceeds of preferential issue for the quarter ended 31.03.2025
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Expo Gas Containers Limited has confirmed that there is no deviation or variation in the use of funds raised through its preferential issue in April 2024. The company had raised ₹7.52 crore by issuing 37.60 lakh equity shares at ₹20 per share (face value ₹4) to promoter and non-promoter categories. Of the total, ₹2.50 crore was earmarked for capital expenditure, ₹4 crore for augmenting working capital, and ₹1.02 crore for general corporate purposes. The Audit Committee, which reviewed the statement on May 29, 2025, confirmed that the funds have been utilised strictly in line with the original objects disclosed at the EGM held on March 22, 2024.
This is a routine compliance filing and is neutral for shareholders. It reassures investors that the ₹7.52 crore raised from the preferential issue has been used as originally promised, with no change in purpose or misuse of funds.