Statement of Deviation or Variation in utilization of funds raised under Regulation 32(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, ....
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Logica Infoway Ltd has filed a compliance statement confirming there is NIL deviation or variation in the use of funds raised through a preferential allotment of shares on March 1, 2025. The company raised Rs. 16.11 crore (Rs. 16,11,23,280) from the preferential issue for capital expenditure (16%), working capital (62%), and general corporate purposes/issue expenses (22%). As of March 31, 2025, the company has utilized Rs. 13.68 crore (around 85% of the total proceeds), with working capital and general corporate purposes fully deployed. Capital expenditure utilization stands at only Rs. 14.21 lakh against an allocation of Rs. 2.58 crore, with the company noting unutilized proceeds will be deployed in subsequent periods as determined by the Board. The Audit Committee and Board reviewed and noted the statement at their meeting on May 30, 2025.
This is a routine compliance filing confirming proper use of raised funds with no deviation, which is neutral to mildly positive for shareholder confidence in fund management discipline. The low utilization of the capital expenditure portion (under 6% of allocated amount) suggests a slower pace of business expansion than originally planned, though the company has cited this as part of normal deployment timing.