Motisons Jewellers 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.
Motisons Jewellers has confirmed to the exchanges that there is no deviation or variation in the use of proceeds from its Rs. 170 Crore Preferential Issue (dated 05 October 2024). The filing is a quarterly compliance statement for Q4 FY25 (quarter ended 31 March 2025), monitored by CRISIL Ratings Limited. As per the disclosure, the company has utilized Rs. 42.50 Crores so far — Rs. 0.11 Cr for issue expenses, Rs. 13 Cr for repaying unsecured loans, and Rs. 29.39 Cr for working capital, while Rs. 34.50 Cr earmarked for general corporate purposes remains unutilized. The audit committee and auditors have raised no comments on the fund usage.
This is a routine compliance filing confirming funds are being used as originally disclosed, which is neutral to mildly positive for shareholders as it signals governance discipline. However, only about 25% of the Rs. 170 Crore raised has been deployed so far, meaning the full benefit of the capital raise is yet to reflect in the business.