Statutory Auditors Certificate in terms of Regulation 169 (4) and (5) of the SEBI (ICDR) Regulations, 2018
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Awaiting price reaction for this filing.
Vega Jewellers has submitted a certificate from its statutory auditors (M/s Sagar & Associates) confirming compliance with SEBI ICDR Regulations for a preferential allotment. The company had earlier issued 92,16,298 warrants at Rs. 55 per share, with 25% upfront money (Rs. 12.67 crore) received by December 26, 2024. On April 11, 2025, 42,90,575 equity shares were allotted on conversion of warrants, and now an additional 47,06,169 equity shares are being allotted upon conversion of the same number of warrants. The balance 75% allotment money of Rs. 19.41 crore has been received from allottees before April 25, 2025. The auditor confirmed there is no circulation of funds or mere book entries, and that the company is in compliance with the Companies Act 2013 and SEBI ICDR Regulations.
This is a procedural compliance filing certifying receipt of warrant conversion proceeds — largely already-priced-in news from the original warrant issuance. It does expand the share count by 47.06 lakh shares but is not a fresh fundraising event.