Statement of Deviation or Variation in utilization of funds
VOEPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Virtuoso Optoelectronics Ltd has filed a statement confirming no deviation or variation in the utilization of Rs. 30 crore raised through a preferential issue (warrants converted into equity). The funds were fully utilized during Q4 FY2026 (Jan-Mar 2026) with Rs. 7.80 crore used for fixed assets acquisition, Rs. 7.60 crore for long-term working capital, and Rs. 14.60 crore for general corporate purposes. The company raised the funds via conversion of 8,79,121 warrants into equity shares on February 6, 2026. An independent monitoring agency, Infomerics Valuation and Rating Ltd, has been appointed to oversee fund utilization. The audit committee reviewed and confirmed proper use of proceeds at its meeting on May 29, 2026.
This is a positive confirmation for shareholders as it shows the company deployed the raised capital as committed in the issue documents. No fund diversion or misuse is reported, which indicates good corporate governance and adherence to stated objectives.