Max India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Max India Limited has filed a quarterly compliance statement confirming that there is no deviation or variation in the use of proceeds from its Rights Issue during the quarter ended June 30, 2025. The company had raised Rs. 124.23 Crores through the Rights Issue on May 23, 2025, as per the Letter of Offer dated April 25, 2025. CARE Ratings Limited is acting as the monitoring agency for the issue. The company has confirmed that the funds were utilised strictly in line with the original objects stated at the time of raising, with no change in purpose or amount. Audit Committee and auditor comments are not applicable as there was no deviation to report.
This is a routine positive compliance filing — it reassures shareholders that the company is deploying the Rs. 124.23 Crore Rights Issue proceeds exactly as promised. No impact on stock price is expected from this disclosure, though it reinforces governance and fund-management discipline.