PCBL Chemical Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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PCBL Chemical has filed its quarterly compliance statement confirming there is no deviation or variation in the use of funds raised through the preferential issue of 1.60 crore convertible warrants made on 7 May 2024. The total issue size is Rs. 448 crore, split into Rs. 168 crore for debt repayment, Rs. 168 crore for working capital, and Rs. 112 crore for general corporate purposes. Of this, only the initial 25% warrant subscription money of Rs. 112 crore was received and was fully utilised by the September 2024 quarter. No warrants were exercised during Q1 FY26 (quarter ended 30 June 2025), so no additional money was received and nothing was deployed during the quarter, leaving Rs. 336 crore unutilised. The Audit Committee reviewed the statement and had no comments, CRISIL Ratings acted as the monitoring agency, and the balance Rs. 336 crore is expected by 8 November 2025 when warrant holders exercise their rights.
This is a routine regulatory confirmation that the company is using the preferential warrant proceeds as originally disclosed, with no governance red flags. Shareholders should note that the remaining Rs. 336 crore is still pending and depends on warrant holders actually converting their warrants by November 2025, which will be a key event to watch for potential dilution and capital infusion.