Statement of Deviation for the Quarter ended on March 31, 2025
Awaiting price reaction for this filing.
Mahan Industries Ltd has submitted a quarterly compliance disclosure to BSE confirming that there was no deviation or variation in the use of funds raised through a preferential issue of equity shares completed on March 21, 2025. The company raised Rs. 2.25 crore, which was allocated for three stated purposes: meeting working capital requirements, complying with RBI's revised regulatory framework for Base Layer NBFCs (capital adequacy), and general corporate purposes. The entire Rs. 2.25 crore was utilized as per the original objects stated in the EGM notice held on January 16, 2025, with no changes requiring shareholder approval. The filing is a routine regulatory submission under SEBI LODR Regulation 32.
This is a routine compliance filing with no material impact on shareholders. It confirms that the funds raised through the preferential issue were used as promised, which is a positive governance signal showing the company adheres to its disclosed plans.