Statement of Deviation & Variation of Funds
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Prime Fresh Limited has filed a statement confirming no deviation or variation in the utilization of funds raised through conversion of warrants into equity shares via preferential issue. The company converted 2,21,289 warrants into equity shares in three tranches on 2nd February, 24th February, and 30th March 2026 at Rs. 164 per share. The total amount raised was Rs. 2,72,18,547, representing 75% of the total consideration. All funds have been utilized for working capital requirements as intended. The statement has been reviewed by the Audit Committee and approved by the Board on 20th May 2026, with the committee commenting that 'everything is in order'.
For shareholders, this filing provides positive assurance that the company has properly utilized funds raised from warrant conversions as per the disclosed objectives, with no deviations or concerns flagged by the Audit Committee.