Statement of Deviation & variation for the Quarter and Year ended March 31, 2026.
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Venmax Drugs and Pharmaceuticals has confirmed no deviation or variation in the use of proceeds from a Preferential Issue of Fully Convertible Equity Warrants. The company raised Rs. 20.05 crores total (with Rs. 12.69 crores and Rs. 1.84 crores received so far from warrant conversions). Funds are allocated across two objects: Rs. 10 crore for Working Capital (Rs. 8.12 crore utilized by March 31, 2026) and Rs. 10.05 crore for General Corporate Purpose and Business Acquisition (Rs. 0.20 crore utilized). Both allocations show no deviation. The statement was reviewed by the Audit Committee on May 14, 2026, and filed on May 15, 2026.
Positive signal for investors — the company has utilized funds as planned with no deviation reported. Funds are still being deployed, particularly for working capital and business expansion, which could support future growth.