Statement of Deviation or Variation for the half year ended September 30, 2025
Price
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Awaiting price reaction for this filing.
Ganga Pharmaceuticals has confirmed that there is no deviation or variation in the use of funds raised through its preferential issue of equity shares upon convertible warrants on July 17, 2025. The company raised Rs. 1,12,87,500, with the stated purpose being capex for manufacturing expansion, working capital, and general corporate needs. Since only 25% of the warrant issue price was received upfront, the allocation was proportionate: Rs. 32.25 lakh for capex, Rs. 53.75 lakh for working capital, and Rs. 26.87 lakh for general corporate purposes. Out of the amount received, the company has utilised about Rs. 53.48 lakh so far, while the remaining Rs. 59.39 lakh is sitting idle in its bank account. The audit committee and auditors had no comments on the filing.
This is a routine half-yearly compliance disclosure confirming funds are being used as originally planned, with no misuse or diversion. For shareholders, it signals governance discipline but is unlikely to move the stock price on its own.