Statement of deviation or variation- Disclosure pursuant to Regulation 32 of the SEBI (LODR) Regulations, 2015 enclosed herewith.
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Awaiting price reaction for this filing.
Julien Agro Infratech Ltd has filed a quarterly statement confirming the use of proceeds from a preferential issue of warrants conducted on March 29, 2025. The company raised Rs. 248.75 Lakhs with issue expenses of Rs. 3.85 Lakhs, leaving net proceeds of Rs. 244.9 Lakhs. The funds were meant to augment long-term resources for infrastructure/construction activities, strengthen the balance sheet, maintain liquidity, and pursue growth opportunities in the agro business. The company reports no deviation from the original objects, and no funds have been utilized during the reporting period.
No negative impact for shareholders — the filing confirms the company has stuck to its stated use of proceeds with no deviation. However, no funds have been deployed yet despite raising money in late March 2025, which may raise questions about the pace of execution for the stated infrastructure and agro business plans.