Niraj Cement Structurals 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.
Niraj Cement Structurals has confirmed to the exchanges that there is no deviation or variation in the use of funds raised through its October 2024 preferential issue of equity shares and convertible warrants, for the quarter ended 30 June 2025. The company originally planned to raise Rs. 132.76 Crores but actually raised Rs. 103.56 Crores due to undersubscription, and all of this amount has been fully utilised across three stated purposes: Rs. 29.31 Cr for working capital, Rs. 48.37 Cr for investment in a subsidiary, and Rs. 25.88 Cr for general corporate purposes. Allocations were reduced in the same proportion as the shortfall due to undersubscription, which was approved in-principle by the stock exchanges. The statement was reviewed by the Audit Committee with no comments, and CARE Ratings Limited is acting as the monitoring agency.
This is a routine compliance filing with a clean outcome — investors get confirmation that the company has used the money exactly as promised in the original offer documents, with no misuse or change in purpose. It is mildly positive for shareholder confidence on capital discipline, though the earlier undersubscription means the company collected less than originally targeted.