PFA, the Statement of deviation and Variation
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Awaiting price reaction for this filing.
Uday Jewellery Industries has confirmed that there is no deviation or variation in the use of proceeds from its Preferential Issue for the quarter ended September 30, 2025. The company raised Rs. 29.45 crore (out of a planned Rs. 34.65 crore) on September 25, 2025, through warrants, and the entire amount of Rs. 29.45 crore has been allocated for working capital requirements to enhance business operations. The statement was reviewed by the Audit Committee, which raised no comments, and no monitoring agency was applicable. The shortfall in total raised amount is because part payment has only been received against the warrants issued.
This is a routine compliance filing confirming proper use of funds as originally intended, which is neutral to mildly positive for shareholders as it demonstrates fund utilization discipline. The partial receipt of proceeds (Rs. 29.45 cr vs Rs. 34.65 cr planned) may signal ongoing capital raise activity but is not a concern given it aligns with the warrant structure.