We are enclosing herewith the Statement of Deviation/ Variation in respect of Preferential Issue of 1219512 Convertible Warrants to Promoters and Preferential Issue of 7774383 Equity Shares ....
MANINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Man Industries has filed a compliance statement confirming no deviation or variation in the utilization of funds raised through two preferential issues. The first issue of 1,219,512 convertible warrants to promoters raised Rs. 10 crore in August 2025, fully deployed for general corporate purposes with no deviation. The second issue of 7,774,383 equity shares to non-promoters raised Rs. 255 crore in July 2025, with Rs. 104 crore utilized for working capital requirements and Rs. 21 crore for general corporate purposes, again with no deviation reported. The monitoring agency, CRISIL Ratings Limited, confirmed proper fund utilization. This is a routine regulatory filing under SEBI LODR regulations.
Positive for shareholders as the company has confirmed proper utilization of approximately Rs. 265 crore raised through preferential issues. No deviation from stated objects indicates the fundraising was executed as planned and funds are being deployed for intended business purposes.