Statement of Deviation & Variation attached
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Awaiting price reaction for this filing.
Expo Engineering And Projects Ltd has filed a quarterly compliance statement confirming no deviation or variation in the use of funds raised through a preferential issue of convertible warrants. The company allotted 31,45,715 convertible warrants at Rs. 70 per warrant (face value Rs. 4, premium Rs. 66), aggregating to Rs. 22.02 crore, on 26th September 2025. During Q2 FY26 (quarter ended 30 September 2025), the company received only the 25% upfront subscription amount of Rs. 5.50 crore; the remaining 75% will come upon warrant conversion within 18 months. As of 30 September 2025, none of the funds have actually been utilised yet. The intended use of the full Rs. 22.02 crore remains: Rs. 14 crore for debt repayment (Saraswat Bank and other banks), Rs. 5.02 crore for working capital, and Rs. 3 crore for general corporate purposes. The audit committee reviewed and confirmed there is no deviation from the originally disclosed objects.
This is a routine regulatory compliance filing that signals orderly fund management — no misuse or diversion of capital raised. Investors can expect the company to begin deploying the Rs. 5.50 crore already received (and later the balance Rs. 16.50 crore on conversion) towards debt repayment, working capital, and corporate purposes as planned, which could modestly improve the balance sheet and reduce interest costs.