Touchwood Entertainment Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
TOUCHWOOD · price
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Touchwood Entertainment filed a Reg. 32 compliance report for Q4 FY25 (quarter ended March 31, 2025), confirming there were no new deviations or variations in fund use during the quarter. It disclosed earlier variations in the objects of its February 2023 preferential issue of optionally convertible warrants worth Rs. 14.28 crore, which shareholders had already approved on September 29, 2023. The reallocated funds have since been deployed for subsidiary business growth (Rs. 2.5 crore fully utilized), capital expenditure on movable/immovable assets (Rs. 3.32 crore of Rs. 10 crore utilized so far), and working capital/general corporate purposes including loan repayment (Rs. 1.78 crore fully utilized). Separately, 20 lakh warrants were not converted within the August 31, 2024 deadline, resulting in forfeiture of Rs. 5.10 crore in upfront subscription money.
No fresh negative action this quarter — past fund-use changes were already shareholder-approved. However, the Rs. 5.10 crore warrant forfeiture and only partial deployment of the Rs. 10 crore capital expenditure allocation suggest slower-than-planned expansion, which shareholders may read as a cautious signal on growth execution.