Statement of Deviation or Variation under Regulation 32 of SEBI (LODR)
SIMPLEXINF · price
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Simplex Infrastructures has filed a statement confirming no deviation or variation in the use of funds raised through a Preferential Issue. The company raised Rs. 281.59 crores in total, comprising Rs. 262.84 crores from equity placement and upfront warrant consideration (as of May 29, 2025), and Rs. 18.75 crores from the conversion of 865,052 warrants into equity shares on July 21, 2025. The report covers the quarter ended March 31, 2026. The Audit Committee and auditors both stated no comments on the utilization. Care Ratings Limited is the monitoring agency appointed for this issue.
The absence of any deviation or variation indicates that funds are being deployed as originally intended, which is a positive signal for shareholders. The successful warrants conversion also demonstrates investor commitment and reduces uncertainty around equity dilution.