Pavna Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
PAVNAIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pavna Industries has filed its quarterly Reg. 32 statement confirming no deviation in the use of proceeds from its preferential issue. The company raised Rs. 210.70 crore on January 29, 2025 by issuing 17.72 lakh equity shares and 24 lakh fully convertible warrants at Rs. 505 each. Of this, Rs. 119.80 crore has already been received, while the balance Rs. 90.90 crore from warrant holders is expected in tranches within 18 months. Due to undersubscription, the original allocation of Rs. 322.03 crore was revised down — strategic acquisitions were cut from Rs. 160 crore to Rs. 78.92 crore, and general corporate purposes from Rs. 80.25 crore to Rs. 50 crore. No new funds were received or utilised during the quarter. CARE Ratings is the monitoring agency, and the audit committee and auditors raised no concerns.
This is a routine compliance confirmation with no negative findings, so no immediate market reaction is expected. However, the scaling back of strategic acquisitions from Rs. 160 crore to Rs. 78.92 crore due to undersubscription signals that planned growth or expansion activities may be delayed or reduced. Investors should watch for the balance Rs. 90.90 crore from warrant holders coming in over the next 18 months.