Statement of Deviation & Variation for the year ended 31st March, 2026
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Galaxy Agrico Exports Ltd has filed a NIL deviation statement confirming that funds raised through a Rights Issue have been fully utilized as per the stated objects. The company issued 1,31,59,102 equity shares at Rs. 35.87 per share (face value Rs. 10 plus premium Rs. 25.87), raising approximately Rs. 47.20 crores. The subscription amount was received on March 5, 2026. Funds were allocated to: property purchase in Hyderabad (Rs. 19.98 crore), company takeover for business expansion (Rs. 10 crore), working capital (Rs. 6.20 crore), and general corporate purposes (Rs. 11.02 crore). The statement has been reviewed and approved by the Audit Committee and monitored by Acuite Ratings & Research Limited.
This is a routine compliance filing with no adverse implications. The NIL deviation confirmation indicates proper utilization of investor funds as disclosed in the offer document, which is positive from a corporate governance standpoint. Shareholders can note that capital raised was deployed as intended without any diversion.