Reg 32 Statement of Deviation & Variation of Quarter ended 31st December 2025.
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New Markets Avenue Limited filed its Reg 32 statement confirming there is NIL deviation or variation in the use of funds raised through a preferential issue of convertible warrants. The company had issued 90 lakh convertible equity warrants at Rs. 10 each (total Rs. 9 Crore), of which Rs. 5.02 Crore has been received so far — Rs. 2.25 Crore (25%) on 29 Oct 2025 at allotment, and Rs. 2.775 Crore on 27 Nov 2025 upon conversion of 37 lakh warrants into equity shares. Out of Rs. 5.02 Crore raised, about Rs. 1.14 Crore has been utilised for working capital and pre-operative expenses such as MCA fees, salaries, RTA/CDSL/NSDL/BSE payments and other office costs. The balance of the original Rs. 9 Crore issue (for growth and strengthening financial position) is yet to be received. The statement was reviewed by the Audit Committee and certified by auditors Suvarna & Katdare. The board also approved unaudited Q3 FY26 financial results at its 13 Feb 2026 meeting.
This is a routine compliance filing — no deviation in fund use and no negative governance flag. The partial conversion of warrants into shares (37 lakh shares allotted) is mildly dilutive for existing shareholders, but utilisation so far is modest and confined to operational expenses, which is neutral to slightly negative for shareholders expecting deployment for growth.