Please find attached Statement of Deviation & Variation for the quarter ended on March 31, 2026
WELENT · price
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Welspun Enterprises has filed a confirmation that there was no deviation or variation in the utilisation of proceeds from its Rs. 1,000 crore convertible warrants preferential issue (allotted October 15, 2025). As of March 31, 2026, the company had received Rs. 250 crore (25% of issue size) as upfront subscription amount for 1.90 crore warrants at Rs. 131.25 per warrant. The balance Rs. 750 crore will be received upon warrant conversion within 18 months. The entire Rs. 250 crore received remains unutilized as on date. Funds are intended for a highway construction project (Pune-Shirur NH-753F) and general corporate purposes. The filing has been reviewed by both the Audit Committee and Board of Directors.
For shareholders, this is a routine compliance filing confirming that the Rs. 1,000 crore raised through warrant issuance is being tracked as intended with no misuse of proceeds. The highway project funding remains on track pending the Letter of Award and subsequent warrant conversions.