Kriti Industries (India) Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

KRITI · price

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-4.3%1-day move

₹92.97

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₹95.10

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AI summary

Kriti Industries has submitted a NIL Statement of Deviation for funds raised through a Preferential Issue. The company raised Rs. 7425.297 Lakhs across three tranches (July 2024, February 2025, and June 2025) against a total approved limit of Rs. 15,000 Lakhs. No fresh funds were raised during Q4 (Jan-March 2026). The funds are deployed across two objectives: Rs. 3,425.30 Lakhs utilized for capital expenditure towards capacity expansion (adding new manufacturing lines for pipes at Pithampur and new locations) against an allocation of Rs. 8,000 Lakhs; and Rs. 4,000 Lakhs utilized for working capital against the same allocation. CARE Ratings is the monitoring agency. The Audit Committee confirmed no deviation in fund utilization against stated objects.

Likely market impact

The NIL deviation statement indicates proper deployment of proceeds as per the disclosed objects, which is a positive signal for shareholders regarding corporate governance and adherence to fund-raising commitments.