Le Merite Exports Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
LEMERITE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Le Merite Exports Limited filed a quarterly statement under SEBI Regulation 32(1) confirming no deviation in the use of funds raised through two preferential issues for the quarter ended December 31, 2025. The first issue (November 2024) involved 14,91,200 convertible warrants at INR 146.50 each, raising about INR 21.85 crore, fully deployed for working capital (INR 1,671.23 lacs) and general corporate purposes (INR 513.38 lacs). The second issue (September 2025) comprised 61,400 equity shares and 5,26,000 warrants at INR 320 each, raising about INR 18.80 crore earmarked for strategic investments and general corporate purposes. From this second tranche, INR 300.28 lacs has been used for strategic investment and INR 317 lacs for general corporate purposes, with the balance pending conversion of the warrants. The audit committee and statutory auditors (Nagori Nuwal & Co.) raised no comments.
This is a routine compliance filing that signals disciplined use of raised capital and good governance, with no material impact on shareholders. Investors should note that about 75% of the warrant-related issue price from the September 2025 preferential issue is still pending receipt, which slightly delays full deployment of those funds.