W S Industries (I) Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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W.S. Industries (India) Limited has filed its quarterly statement of fund utilisation covering 5 preferential issues conducted between July 2025 and March 2026, totalling approximately Rs.174.55 crores in funds raised. Two issues showed deviations: the Rs.56.25 crore convertible warrants (October 2025) and Rs.99.43 crore equity shares (January 2026) had their utilisation plans modified with shareholder approval. The company utilised Rs.5.70 crore of Rs.6.00 crore from the July 2025 equity issue, Rs.24.97 crore of Rs.56.25 crore from the October 2025 warrants, and Rs.26.22 crore of Rs.99.43 crore from the January 2026 equity issue. Notably, 18,66,222 convertible warrants from a September 2024 allotment lapsed and were forfeited as they were not converted within the mandatory 18-month period ending 4th March 2026.
The company is still in the early stages of deploying large capital raises, with significant unutilised funds. The forfeiture of lapsed warrants reduces the total potential equity dilution. Shareholders should monitor how remaining funds are deployed toward land acquisition and debt repayment objectives.