Statement of deviation(s) or variations (s)
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Vedavaag Systems Ltd has submitted a quarterly compliance statement under SEBI Regulation 32, confirming that there is no deviation or variation in the use of funds raised through a preferential issue of convertible warrants. The company raised ₹1,38,77,325 on March 20, 2025, for the stated purpose of financing future growth opportunities and working capital requirements. Out of the total amount raised, ₹1,38,00,000 was utilised during the quarter ended March 31, 2025, with zero deviation reported. The statement was reviewed and approved by the Audit Committee and the Board of Directors at their meeting held on May 30, 2025, and signed by Managing Director J. Murali Krishna.
This is a routine regulatory compliance filing and is neutral for shareholders. The confirmation of no deviation or misuse of funds signals good governance and transparency, with the company deploying proceeds as originally disclosed for growth and working capital needs.