PFA statement of deviation or variation in the use of proceeds of right issue of the quarter ended 31/12/2025.
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Awaiting price reaction for this filing.
Jainex Aamcol has filed its quarterly disclosure on the use of proceeds from a rights issue of equity shares allotted on 10 December 2025, under which it raised Rs. 647.60 lakhs. CARE Ratings is acting as the monitoring agency. The company reported no deviation or variation in the use of funds. However, it revised the cost allocation across the stated objects via a board resolution on 10 December 2025 — reducing the allocation toward repayment of secured loans by Rs. 1.92 crore and reallocating it to the expansion program and unsecured loan repayment. As of 31 December 2025, Rs. 83.96 lakhs was utilised on the expansion program and Rs. 548.02 lakhs on repaying unsecured loans taken for the expansion. The Audit Committee noted the reallocation and concluded there is no deviation from the original purposes stated in the offer document.
The filing is largely procedural and governance-positive — no true deviation was found, and funds are being used within the broad stated purposes (expansion and debt repayment). The reallocation toward unsecured loan repayment (higher-cost debt) over secured loans is a financially prudent move and should not affect the stock price materially.