LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Lloyds Engineering Works Limited has submitted a quarterly compliance statement regarding the use of funds raised through its Rights Issue. The company raised Rs. 493.62 Crore on 5th June 2025 by allotting 30.85 crore partly paid-up equity shares at Rs. 32 per share (face value Re. 1), with Rs. 16 per share paid on application and the balance to be called in up to two tranches by 31st March 2026. India Ratings & Research is acting as the Monitoring Agency for the issue. The company confirms there has been no deviation or variation from the stated objects or use of funds during the quarter. Both the Audit Committee and auditors had no comments on the filing.
This is a routine compliance filing confirming that the company is using the rights issue proceeds as originally planned, with no diversions. For shareholders, this signals good governance and adherence to the stated purpose of fund raising, though it also indicates that the raised funds are still largely unutilized as of 30th June 2025.