Kindly find enclosed herewith the Statement of NIL deviation and variation for the quarter ended on 31st March,2025
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Awaiting price reaction for this filing.
Last Mile Enterprises has filed a NIL deviation statement under SEBI LODR Regulation 32 confirming that proceeds from three separate preferential issues were used only for the originally stated purposes, with no deviation or change in objects. Preferential Issue 1 raised Rs. 43.59 crore (Rs. 70,000 remains unutilised as of March 2025). Preferential Issue 2 raised Rs. 75.10 crore (Rs. 30,000 still unutilised). Preferential Issue 3 raised a much larger Rs. 235.37 crore (fully utilised in the quarter), aimed at long-term working capital, NBFC investments for stressed assets, subsidiary growth, acquisitions, and general corporate purposes. CARE Ratings Limited is the monitoring agency for Issue 3, while no monitoring agency was appointed for Issues 1 and 2. The Audit Committee and auditors raised no comments.
This is a routine compliance filing and not a price-moving event. However, it confirms that the company has deployed nearly Rs. 354 crore in aggregate from preferential issues strictly as promised to shareholders, which is mildly positive for governance. Investors should note the sizeable unutilised balance (Rs. 1 lakh total) pending deployment.