please find enclosed herewith the Statement of Deviation or Variation, along with Certificate issued by Statutory Auditor
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Trident Lifeline has filed its quarterly compliance statement showing use of funds raised from two sources. From the IPO of October 2022, where it raised Rs. 35.34 crore, the company has so far utilized Rs. 30.72 crore, with Rs. 4.62 crore still pending deployment — most of it (Rs. 4.48 crore) earmarked for international product registration, which is only about 13% used. Working capital and public issue expense allocations are nearly or fully spent. For the preferential issue of convertible warrants in June 2025, the company raised Rs. 26.57 crore in total, but only Rs. 15.27 crore (roughly 57%) has actually been received from investors so far, and that entire amount has been used for working capital, investments in subsidiaries/JVs, loan repayment, expansion and general corporate purposes. The statutory auditor has certified both statements, and the company reports no deviation or variation from the originally disclosed objects.
Routine compliance filing with no deviation flagged, so the immediate stock reaction should be neutral. However, investors should note two points: (1) 75% of the warrant issue money is yet to come in from investors, which is an open commitment, and (2) the IPO funds meant for international product registration remain largely undeployed, hinting at slower-than-planned global expansion plans.