Statement of Deviation & Variation Quarter ended June 30, 2025
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Awaiting price reaction for this filing.
Nibe Ordnance and Maritime Limited (formerly Anshuni Commercials Limited) has filed a quarterly statement confirming there is no deviation or variation in the use of funds raised through a Rights Issue of equity shares conducted on February 4, 2025. The company raised Rs. 115.98 Lakhs, which was earmarked for setting up a new office (Rs. 102.30 Lakhs) and meeting issue expenses (Rs. 13.68 Lakhs). As of June 30, 2025, Rs. 77.78 Lakhs has been used for the new office, the full Rs. 13.68 Lakhs for issue expenses has been utilized, and Rs. 29.06 Lakhs was deployed during the quarter alone. An unutilized balance of Rs. 24.52 Lakhs remains parked in the company's current bank account.
For shareholders, this is a routine compliance filing that signals management is using Rights Issue proceeds as disclosed, with about 79% of the office-expansion funds already deployed. No red flags on misuse of funds, but the pace of utilization (roughly 77% on the main object) may be worth tracking in coming quarters.