Submission of Statement of Deviation and Variation for the half year ended 31.03.2026
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Shine Fashions (India) Ltd raised Rs. 4.02 crores through conversion of warrants into equity shares during the half year ended March 2026. The company converted 2.59 lakh warrants across three tranches in October 2025 and March 2026. The funds were raised via preferential allotment and have been fully utilized for working capital requirements as stated in the offer documents. The company has confirmed there is no deviation or variation in the use of proceeds from what was originally intended.
Shareholders can note that the warrant conversion process has been completed smoothly with no deviations from the stated use of funds. The monitoring agency was not applicable for this issue, and both the audit committee and auditors have no comments.