Shivalik Rasayan Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Shivalik Rasayan Limited has filed a quarterly compliance report confirming the use of ₹1,020.30 lakhs raised through conversion of warrants into equity shares on March 27, 2025. The funds were intended for setting up a new facility at the company's existing API plant in Dahej-II, Gujarat (to manufacture Diabetology and Cardiovascular APIs), meeting working capital needs, and general corporate purposes. The Audit Committee reviewed the report on August 12, 2025, and confirmed that there is no deviation or variation in how the funds have been utilized. The entire ₹1,020.30 lakhs has been deployed in line with the originally disclosed objects.
This is a routine compliance disclosure with no negative implications. It reassures shareholders that the ₹10.20 crore raised from warrant conversions is being used exactly as promised, with no misuse or change in purpose. No material impact on the stock price is expected from this filing.