Statement of Deviation in for the year ended 31.03.2026
Price
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Upsurge Investment & Finance Ltd has filed a nil statement of deviation confirming no change in the use of proceeds from a preferential issue of warrants convertible into equity shares. The company raised ₹10.12 crore (₹10,12,87,500) on 23rd February 2026 through this preferential issue. The funds were fully utilized as planned for capital expenditure, working capital, and general corporate purposes. The audit committee and auditors both had no comments, indicating standard compliance. This filing covers the quarter ended 31st March 2026 under SEBI LODR Regulation 32.
This is a positive regulatory compliance update confirming that investor funds from the preferential issue were deployed as intended. The nil deviation statement assures shareholders that the company is utilizing proceeds responsibly without any material deviation from the stated objects.