Submission of Statement of Deviation or Variation for 31st March 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gemstone Investments Limited has filed a Statement of Deviation/Variation confirming no deviation in the use of proceeds from its preferential warrant issue. The company raised ₹24.60 crore through warrants issued on 19th and 26th November 2025. As of 31st March 2026, ₹24.24 crore has been deployed towards augmenting capital base for NBFC activities (the company's main stated object), while ₹36.12 lakh was used for issue-related expenses out of a ₹50 lakh provision. No funds were used for general corporate purposes. The Audit Committee reviewed and approved this statement on 28th May 2026. Since no monitoring agency was required (issue size below ₹100 crore threshold), no independent oversight was in place.
For shareholders, this filing indicates proper adherence to fund utilization norms with no misuse detected. The partial deployment of ~99% of raised funds suggests the company is gradually deploying capital into its NBFC operations. However, the lack of a monitoring agency for a ₹24.6 crore raise warrants investor attention on how the remaining capital is being deployed going forward.