Innovana Thinklabs Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Innovana Thinklabs has confirmed to the exchanges that there is no deviation or variation in how it is using the money raised from its preferential issue of 8.60 lakh convertible warrants. The warrants were issued at Rs. 431 each (face value Rs. 10) in September 2025, with a total issue size of about Rs. 37.07 crore. As of December 31, 2025, the company has received Rs. 14.44 crore — Rs. 9.27 crore as initial subscription money and Rs. 5.17 crore from conversion of 1.60 lakh warrants in October 2025. The remaining Rs. 22.63 crore is expected within 18 months as and when the rest of the warrants are exercised. The entire Rs. 14.44 crore received so far has been used for the stated object, which is General Corporate Purposes. The Audit Committee reviewed and approved the statement, confirming everything is in order.
This is a routine compliance filing with no negative signal for shareholders — the company is using the warrant money exactly as promised. The gradual conversion of warrants means more equity is being issued over time, which can lead to mild dilution, but it also reflects promoter/investor confidence in the stock.