Statement of Deviation & Variation for the Quarter ended as on 30th September 2025
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Vashu Bhagnani Industries Ltd (formerly Pooja Entertainment and Films Ltd) has filed a quarterly statement under SEBI Regulation 32 confirming there is no deviation or variation in the use of funds raised through its preferential issue of equity convertible warrants. The company allotted 2,89,50,000 warrants in April 2024, receiving Rs. 21.71 crore as the upfront 25% payment. Upon conversion, it issued 2,89,50,000 equity shares across multiple tranches and received an additional Rs. 65.14 crore, with the latest tranche of 85,15,000 shares allotted in September 2025 raising Rs. 19.16 crore. All proceeds have been fully utilized toward the originally stated objects — capital expenditure, business expansion, investments in subsidiaries, acquisitions, working capital, and general corporate purposes. The audit committee noted no deviations and the auditors had no observations.
This is a routine compliance filing that confirms the company has used the roughly Rs. 86.85 crore raised from the preferential issue exactly as promised to shareholders, with no misuse or change in purpose. It is a neutral, transparency-positive disclosure and carries no negative signal for the stock.