Please find enclosed Statement of Deviation for the quarter ended March 31, 2026.
MANINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Man Infraconstruction Limited has filed its quarterly statement confirming no deviation in the use of proceeds from the Rs. 512.64 crore raised via preferential issue of convertible warrants in January 2024. The funds are being deployed across four stated objects: expanding EPC and real estate business (Rs. 214.24 crore), purchase of fixed assets (Rs. 5 crore), working capital for projects (Rs. 124.64 crore), and general corporate purposes (Rs. 125 crore). The company notes that fund allocations were revised via a Board Resolution dated November 12, 2025, and the Audit Committee reviewed and approved the statement on May 13, 2026. Monitoring agency ICRA Limited is overseeing the utilization. All categories show 'No Deviation' in the remarks column.
This is a routine compliance filing confirming that funds are being used as intended, with no misuse or significant variations detected. This should be neutral for shareholders, though the reallocation of Rs. 5 crore from EPC expansion to fixed asset purchase indicates some shift in deployment strategy.