Statement of Deviation or Variation pursuant to Regulation 32 of SEBI ( Listing Obligations and Disclosure Requirements) Regulatioms 2015
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Shelter Pharma Ltd has filed a compliance statement confirming no deviation or variation in the utilisation of proceeds from a Preferential Issue of Convertible Warrants. The company raised Rs. 2,531.20 lakhs (approximately Rs. 25.31 crore) through the issuance of 88,08,000 warrants at Rs. 42.25 per share on August 6, 2025. This included Rs. 930.35 lakh as 25% initial subscription money, followed by Rs. 1,600.85 lakh upon conversion of 50,52,000 warrants into equity shares. All funds have been fully deployed for Working Capital requirements as originally approved in the EGM held on July 23, 2025. The statement has been reviewed by the company's Audit Committee and independently verified by statutory auditors Alvi & Associates.
This is a routine compliance filing with no material implications for shareholders. The confirmation of zero deviation indicates proper fund deployment as promised, which is a positive indicator of management adherence to stated objectives.