Five-Star Business Finance Limited has informed the Exchange about statement of Nil deviation(s) or variation(s) under Reg. 32
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Five-Star Business Finance has confirmed no deviation or variation in the utilisation of proceeds from its preferential issue of convertible share warrants. The company raised INR 31.57 crore through 4,10,000 share warrants at Rs 770 each. The upfront consideration of INR 7.89 crore received on October 24, 2024 has been fully utilised for working capital purposes. The balance consideration of INR 17.90 crore received on March 23, 2026 upon conversion of 3,10,000 warrants into equity shares had not yet been deployed as of March 31, 2026. The statement has been reviewed by the Audit Committee.
This is a routine compliance filing with no red flags. The nil deviation confirmation indicates proper governance and use of funds as stated. The undeployed balance of INR 17.90 crore is expected as it was recently received in March 2026.