Iris Clothings Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
IRISDOREME · price
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Iris Clothings Limited has filed its quarterly Reg. 32 compliance statement for the quarter ended 30 June 2025, confirming no deviation or variation in the use of funds raised through its Rights Issue on 24 April 2025. The company raised Rs. 4,758.28 Lakhs via the Rights Issue, of which Rs. 3,513.75 Lakhs has been utilised for augmenting working capital (against an allocation of Rs. 3,513.79 Lakhs) and Rs. 807.55 Lakhs for General Corporate Purposes (against an allocation of Rs. 764.86 Lakhs). The slight uptick in General Corporate Purposes spend is because actual Rights Issue expenses came in lower than estimated (Rs. 436.98 Lakhs vs Rs. 479.67 Lakhs), with the savings reallocated to GCP. The Audit Committee and auditors had no comments on the filing.
This is a routine compliance filing — there is no deviation from the stated objects, and the Rights Issue proceeds are being deployed largely on track. Shareholders can take comfort that management is using the freshly raised Rs. 47.58 crore as promised, with no negative governance flags raised. No material impact on stock price is expected from this disclosure.