Please find attached Statement of Deviation and Variation under Regulation 32 of SEBI LODR Regulations, 2015
RKFORGE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ramkrishna Forgings filed two quarterly statements confirming no deviations in fund utilisation. Annexure A covers the allotment of 34 lakh convertible warrants on 14 January 2026 at Rs. 588 per warrant, raising Rs. 49.98 crore (25% upfront). Annexure B covers the conversion of 6.4 lakh warrants into equity shares on 27 March 2026 at Rs. 1,575 per warrant, bringing in Rs. 100.80 crore (75% of issue price paid on exercise). In both cases, the funds were allocated for repayment of working capital demand loans including interest, with up to 25% allowed for general corporate purposes. India Rating & Research Private Limited acted as the monitoring agency for both. No deviations, variations, or audit committee comments were reported.
The clean utilisation report with no deviations is a positive signal, indicating disciplined use of proceeds from warrant conversions. The large-scale warrant conversion (6.4 lakh shares) and new warrant allotment (34 lakh) suggest ongoing capital-raising activity, which could have a minor dilutive impact on existing shareholders.