Som Distilleries & Breweries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Som Distilleries & Breweries has filed a quarterly statement confirming that there is no deviation or variation in the use of Rs. 135.436 crores raised through preferential issue of convertible equity warrants from the objects disclosed earlier. Funds were raised across multiple tranches between August 2023 and February 2025 and were allocated across capital expenditure (Rs. 30 cr), working capital (Rs. 19.62 cr), operational expenditure (Rs. 30 cr), loan repayment (Rs. 30 cr), and general corporate purposes (Rs. 25.81 cr after modification from Rs. 32 cr). The Audit Committee reviewed the statement and found no deviation, with ICRA Limited acting as the monitoring agency. Additionally, Rs. 12.50 crores raised on December 27, 2024 was carried forward and fully utilized in the final quarter, while Rs. 6.19 crores in warrant balance money was forfeited from two allottees who failed to pay within the due period.
This is a routine compliance filing confirming disciplined use of preferential issue proceeds, which is mildly positive for shareholder confidence. The forfeiture of Rs. 6.19 crores from non-paying allottees is a minor negative but shows the company is enforcing its terms.