Statement of Deviation & Variation for the quarter ended 31st March, 2026
PAVNAIND · price
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Pavna Industries Limited has filed a statement confirming there is NO deviation or variation in the utilization of proceeds from its preferential issue of equity shares and fully convertible warrants. The company raised Rs. 210.70 crore in January 2025 (Rs. 89.50 crore from equity shares and Rs. 30.30 crore from 25% warrant conversion). The balance Rs. 90.90 crore from warrant holders is pending receipt within 18 months. Funds have been deployed for working capital (Rs. 81.50 crore), strategic acquisitions (Rs. 78.92 crore), general corporate purposes (Rs. 50 crore), and issue expenses (Rs. 0.28 crore). The monitoring agency CARE Ratings Limited reviewed the utilization. No funds were received or deployed during the Q4 FY2026 period.
This is a routine compliance filing confirming proper deployment of funds as per the stated objects. The absence of any deviation is reassuring for shareholders and indicates disciplined capital deployment. The pending Rs. 90.90 crore warrant proceeds should flow in over the coming months.