Statement of Deviation(s) or Variation(s) for quarter ended March 31, 2026.
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Kinetic Engineering Limited filed its quarterly utilisation statement for funds raised via preferential issues of convertible warrants. During Q4 FY26, the company allotted 31 lakh equity shares upon warrant conversion at Rs. 171 per share, raising Rs. 39.76 crore. Total funds received till March 31, 2026 stand at Rs. 101.60 crore out of the total issue size of Rs. 166.84 crore. The remaining Rs. 65.24 crore is expected within 18 months from warrant allotment. Of the Rs. 74.49 crore utilized so far, Rs. 42 crore went into equity investment in subsidiary Kinetic Watts and Volts Limited, Rs. 19.64 crore for redemption of preference shares, Rs. 8.03 crore for working capital, and Rs. 1.84 crore for general corporate purposes. The company has explicitly confirmed there is NO deviation or variation in the use of funds from the originally disclosed objects.
This is a routine compliance filing confirming proper fund utilisation with no deviations. For shareholders, the key takeaway is that the capital raising exercise is progressing as planned, with funds being deployed toward stated objectives including subsidiary investment and debt reduction.