Jupiter Wagons Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Jupiter Wagons Limited filed its quarterly statement under Reg. 32 for funds raised via three instruments: QIP December 2023 (Rs. 403.41 Cr), Warrants June 2024 (Rs. 135 Cr), and QIP July 2024 (Rs. 800 Cr). For QIP December 2023, unutilized funds of Rs. 43.64 Cr originally meant for a new foundry at Jabalpur were redirected per shareholder approval dated 18 April 2025 to enhance capacity at the Bandel unit instead. The warrants and QIP July 2024 funds show full utilization with no deviations. All three fund raises are monitored by Care Ratings Limited, and the Audit Committee reviewed the statements with no adverse comments.
The redirection of unutilized QIP funds toward Bandel capacity enhancement reflects a strategic reallocation within the company's capital expenditure program. No shareholder-impacting deviations were reported across the other two raises, indicating orderly fund deployment.