Statement of Deviation or Variation for the half year ended September 30, 2025
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Awaiting price reaction for this filing.
Ganga Pharmaceuticals Limited has confirmed there is no deviation or variation in the use of funds raised through its Preferential Issue of equity shares on convertible warrants, which was allotted on July 17, 2025. The company raised Rs. 1.12 crore (being the 25% subscription amount on warrants) out of a planned total of Rs. 4.20 crore. Of this amount, Rs. 30.42 lakh has been spent on capital expenditure for manufacturing expansion, Rs. 17.96 lakh on working capital, and Rs. 5.10 lakh on general corporate purposes. An unutilized balance of Rs. 53.48 lakh remains, with Rs. 59.39 lakh parked in the company's current account. The full fund deployment is planned over an 18-month window from the allotment date.
This is a routine compliance filing confirming funds are being used as originally disclosed with no misuse or diversion. For shareholders, it provides reassurance that the preferential issue proceeds are on track for stated purposes, though actual spending is only around 47% of the received amount within the first few months — leaving room to monitor utilization progress over the remaining utilization period.