Please find enclosed the Statement of Deviation or Variation in utilization of funds.
JWL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Jupiter Wagons has filed its quarterly fund utilization statement for Q4 FY26 (ending March 31, 2026) covering three capital raises: a QIP in December 2023 (Rs. 394.18 crore net), convertible warrants in June 2024 (Rs. 135 crore), and a QIP in July 2024 (Rs. 783.24 crore net). The company has confirmed there is NO deviation or variation in the use of proceeds across all three issuances. For the December 2023 QIP, Rs. 50 crore originally meant for a new foundry at Jabalpur was reallocated (with shareholder approval on April 18, 2025) to enhance foundry capacity at the Bandel unit instead. All other allocations remain on track with zero deviation reported. Care Ratings Limited is the monitoring agency for all three issues.
This filing is reassuring for investors as it confirms proper deployment of over Rs. 1,300 crore raised via QIPs and warrants, with no unauthorized deviation in fund usage. The only allocation change (foundry reallocation) was properly approved by shareholders.