Shree Pushkar Chemicals & Fertilisers Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SHREEPUSHK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shree Pushkar Chemicals & Fertilisers raised Rs. 30 crore via preferential issue of Fully Convertible Warrants, with allotment on 27th December 2025. As of 31st March 2026, the company received Rs. 7.50 crore (25% subscription amount), with the remaining 75% due upon warrant conversion within 18 months. The funds are earmarked for investment in its wholly-owned subsidiary Madhya Bharat Phosphate Private Limited, to fund capital expenditure for a complex fertilisers plant expansion at Meghnagar, Jhabua, Madhya Pradesh. The audit committee reviewed the utilisation and confirmed NO deviation or variation in the use of funds from the stated objects. The company also noted that if the pending amalgamation of Madhya Bharat Phosphate with Kisan Phosphates is approved by NCLT before utilisation, the proceeds will extend to Kisan Phosphates as well.
No deviation is a positive signal — it confirms the company is deploying raised capital as promised. Shareholders can view this as routine compliance, with no red flags on fund misuse. The dilution from warrant conversion is still pending over the next 18 months.