Statement of deviation or variation in the use of proceeds for the quarter ended December 31, 2025
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Vedavaag Systems has filed a regulatory compliance statement confirming that there has been no deviation or variation in the utilization of funds raised through a preferential issue of convertible warrants. During the quarter ended December 31, 2025, the company used ₹2,25,000 (₹2.25 lakh) towards working capital needs. A small unutilized balance of ₹23,381.40 remains, which the company says will be deployed as per the originally stated purpose of the issue. The statement was reviewed and approved by the Audit Committee and Board of Directors on February 13, 2026. The preferential issue involved 79,38,000 convertible warrants allotted in October 2024, of which a portion was later converted into equity shares in March and April 2025.
This is a routine compliance filing under SEBI rules and is largely neutral for shareholders. It confirms the company has stuck to its stated use of funds with no diversion, which is a positive governance signal, though the amounts involved are very small relative to typical company operations.