It is hereby informed that there is no deviation in the utilization also all the funds have been used completely and this will be the final statement of deviation in relation to the funds ....
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Awaiting price reaction for this filing.
LWS Knitwear Ltd has confirmed full utilization of funds raised through its Rights Issue, with no deviation from the stated objects. The company raised ₹1,723.22 Lakhs against an original plan of ₹1,729.97 Lakhs, with the small shortfall due to under-subscription of the issue. The proceeds were deployed as follows: ₹200 Lakhs for working capital, ₹971.48 Lakhs for repayment of loans, ₹401.74 Lakhs for general corporate purposes (revised down from ₹408.49 Lakhs due to under-subscription), and ₹150 Lakhs for share issue expenses. The Rights Issue was allotted on December 31, 2024, and this is the final deviation statement for Q4 FY25 ended March 31, 2025. Both the Audit Committee and statutory auditors (Parmod G. Gupta & Associates) have certified that funds were used entirely for the originally disclosed purposes. Notably, the shares were allotted to existing unsecured lenders, and those proceeds were then used to repay those loans.
This is a routine positive compliance filing – it confirms transparent and disciplined use of the Rights Issue money with no misuse or diversion. For shareholders, this builds confidence in management's governance, though there is no direct stock-price catalyst. The under-subscription is a minor negative signal, but the loan-repayment use of funds reduces the company's debt burden going forward.