Statement of deviation(s) and Variation(s)
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Awaiting price reaction for this filing.
Vedavaag Systems has filed a compliance statement for the quarter ended September 30, 2025, confirming there is no deviation or variation in the use of funds raised through its preferential issue of convertible warrants. The Audit Committee and Board of Directors reviewed and approved this statement at a meeting held on November 14, 2025. The company reported a small unutilized balance of Rs. 2,48,381.40 from the proceeds. The original issue involved allotment of 79,38,000 convertible warrants on October 23, 2024, followed by conversion of 2,93,700 warrants into equity shares on March 20, 2025 and 2,45,500 warrants on April 30, 2025. The company stated the utilization of the remaining amount will be updated in due course.
This is a routine regulatory compliance filing with no negative implications. The tiny unutilized amount (Rs. 2.48 lakh) against the original issue size is immaterial, suggesting the company has used nearly all the warrant proceeds as planned. Shareholders should see no impact on stock price from this disclosure.