Senores Pharmaceuticals Limited has informed the Exchange regarding statement of deviation or variation in respect of funds raised through preferential issue of warrants.
SENORES · price
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Senores Pharmaceuticals has submitted its quarterly fund utilisation statement for the Rs. 95 crore raised via preferential issue of 11.70 lakh convertible equity warrants on March 28, 2026. The company confirms there is NO deviation or variation in how the funds are being used — they are deployed as per the original objects approved by shareholders in the EGM held on January 31, 2026. Funds were allocated across four areas: working capital (Rs. 31.25 crore), product development (Rs. 25 crore), investment in subsidiaries for their working capital (Rs. 15 crore), and general corporate purpose (Rs. 23.75 crore). Of the Rs. 95 crore raised, only Rs. 5 crore has been deployed in this first quarter — Rs. 2.50 crore each towards working capital and subsidiary loans, with product development and general corporate purpose yet to be utilized. The statement was reviewed by the Audit Committee and approved by the Board on May 14, 2026.
No deviation in fund usage is a positive signal — it means the company is deploying capital as committed to investors. However, only 5% utilization in the first quarter suggests capital deployment is in early stages, and shareholders should monitor progress in subsequent quarters.