Please find enclosed herewith Nil Statement of Deviation or Variation
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Awaiting price reaction for this filing.
Rudra Ecovation Limited has filed a NIL statement confirming there is no deviation or variation in the use of funds raised through its preferential allotment of convertible warrants for the quarter ended June 30, 2025. The company had issued 2,07,65,000 convertible warrants on July 11, 2024 to promoters and non-promoters at Rs. 48 per warrant (face value Re. 1, premium Rs. 47), of which 76,47,000 warrants remain pending conversion. During April-June 2025, no exercise money was received from warrant holders towards conversion into equity shares. No fresh funds were raised in the quarter, and no monitoring agency was appointed. The filing has been reviewed by the Audit Committee and noted by the Board.
This is a routine compliance filing with no negative implications — it simply confirms proper use of previously raised funds. However, the fact that over 76 lakh warrants remain unconverted and no exercise money was received during the quarter indicates slow warrant conversion, which means the company has not yet received the expected equity capital from these instruments.