Statement of Deviation and Variation for March 2025
Price
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Awaiting price reaction for this filing.
Ganga Pharmaceuticals has filed a regulatory statement confirming there is no deviation or variation in the use of funds raised through a preferential issue of equity shares and convertible warrants on January 19, 2024. The company raised a total of Rs. 1.70 crore (Rs. 62.12 lakh from warrants and Rs. 1.08 crore from equity shares). As per the original plan, these funds were meant for three purposes: expansion of manufacturing facilities (Rs. 48.75 lakh used), augmenting working capital (Rs. 81.25 lakh used), and general corporate purposes (Rs. 40.62 lakh used). The proportionate allocation matches the funds actually utilized, and the company reports NIL unutilized amount as on March 31, 2025. No monitoring agency was appointed, and auditors had no comments on the disclosure.
This is a routine compliance filing that signals proper and transparent use of raised funds with no misuse or diversion. For shareholders, this is a neutral-to-positive indicator of corporate governance, though the small fund size (Rs. 1.70 crore) limits any meaningful impact on the stock price or business operations.