We hereby confirm that during the half year ended March 31, 2025, there is no deviation or variation in utilization of funds raised through Preferential Issues. The said statement is enclosed.
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Shoora Designs Ltd has confirmed that there is no deviation or variation in how it used the money raised through its preferential warrant issue. The company had allotted 31,25,000 warrants at Rs. 53 each (including Rs. 43 premium) on September 25, 2024, which were converted to equity shares on March 15, 2025, raising Rs. 1,656.25 Lakhs in total. Of this amount, Rs. 1,341.25 Lakhs has been utilized so far — Rs. 927.19 Lakhs out of the Rs. 1,242.19 Lakhs allocated for expansion plans and working capital, and Rs. 414.06 Lakhs (fully used) out of Rs. 414.06 Lakhs allocated for general corporate purposes. The Audit Committee reviewed and confirmed no deviation in the use of these funds for the half year ended March 31, 2025.
This is a routine regulatory compliance filing with a positive governance signal — funds are being used as promised to shareholders. The partial deployment of expansion/working capital funds (about 74% used) suggests ongoing business investment rather than any misuse of capital.