Statement of Deviation and Variation for the quarter ended march 31st , 2026
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Manglam Global Corporations Limited (formerly Kshitij Investments Limited) has filed a Statement of Deviation/Variation for funds raised via Preferential Issue on January 5, 2026. The company raised Rs. 68,476,000 (approximately 6.85 crore). The funds were allocated for three purposes: Rs. 60 million for working capital requirements, Rs. 7,976,000 for general corporate purposes, and Rs. 500,000 for issue-related expenses. The filing confirms there is NO deviation in the utilization of funds from the original purpose. The Audit Committee has noted and approved the utilization, and the auditors have confirmed no deviation from the initial purpose for which funds were raised.
This is a routine compliance filing with no red flags. The company has properly utilized the raised funds as intended, which is a positive signal for shareholders indicating proper governance and adherence to stated objectives.