statement of deviation/variation for the quarter ended march 31, 2026
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JOJO Limited filed a statement confirming no deviation or variation in the utilisation of proceeds from a preferential issue of 1 crore convertible warrants issued on 4th September 2024, at Rs. 40 per warrant. The total amount raised was Rs. 4 crore. The funds were allocated between working capital requirements (Rs. 3.88 crore) and general corporate purposes (Rs. 0.12 crore). The Audit Committee reviewed the utilisation and confirmed no incremental deviation in either category. No comments were raised by either the Audit Committee or auditors.
This is a routine compliance filing with no red flags. The company has deployed the raised funds as intended, which is a positive signal for shareholders indicating proper fund management.