Ratnaveer Precision Engineering Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
RATNAVEER · price
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Awaiting price reaction for this filing.
Ratnaveer Precision Engineering has filed a quarterly compliance statement confirming there is no deviation or variation in the use of proceeds from its preferential warrants issue of September 2024. The company raised approximately Rs. 29 crores (Rs. 28.87 crores actually received from investors) and has utilised the full amount across the three approved purposes. Specifically, Rs. 15.66 crores was used for meeting working capital needs (fully utilised), Rs. 6.54 crores for business expansion, and Rs. 6.67 crores for general corporate purposes. The Audit Committee reviewed the statement and had no comments, and the auditors also raised no observations.
This is a routine regulatory compliance filing that reassures investors the company has spent the warrant proceeds exactly as approved by shareholders in the July 2024 EGM, with no misuse or unplanned allocation. Neutral to mildly positive for sentiment as it confirms governance discipline and full deployment of the Rs. 29 crore raise.