Thomas Scott (India) Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
THOMASCOTT · price
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Awaiting price reaction for this filing.
Thomas Scott (India) Limited has filed its quarterly Reg 32 compliance statement for Q4 FY25, confirming that there were no deviations or variations in the use of funds raised through its preferential issue and conversion of warrants into equity shares. The company had raised Rs. 36.15 crore and Rs. 30.41 crore across multiple tranches between November 2023 and March 2025, including warrant allotments and equity share conversions priced between Rs. 21 and Rs. 330 per share/warrant. The stated purposes for the funds include working capital, ecommerce platform and portal development, capital expenditure to expand production, setting up logistics and warehousing, marketing and branding, acquisitions, and general corporate purposes (capped at 25%). The Audit Committee reviewed the statement and had no comments, and the auditors also raised no objections.
This is a routine but positive compliance filing that signals good corporate governance — management is using the money exactly as promised to shareholders when the preferential issue was approved. Investors can take comfort that the Rs. 66+ crore raised is being deployed as disclosed, with no misuse or unauthorized diversion.