Statement of Deviation and Variation for the quarter ended March 31, 2025 is attached
WELSPLSOL · price
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Welspun Specialty Solutions has filed a quarterly compliance statement confirming there is no deviation or variation in the use of proceeds from its Rights Issue. The company raised Rs. 349.85 Crores through a Rights Issue on March 24, 2025, by issuing 13.25 crore equity shares at Rs. 26.40 each. Of the total, Rs. 284 Crores were fully utilised for repayment/prepayment of borrowings, Rs. 2.29 Crores went toward issue expenses, and Rs. 3.90 Crores of the Rs. 63.56 Crores earmarked for general corporate purposes was used for interest payments, with the remaining unutilised amount parked in a fixed deposit with Yes Bank. The Audit Committee reviewed the statement and had no comments, and the auditors also raised no objections.
This is a routine regulatory disclosure confirming that funds raised via the Rights Issue are being used exactly as disclosed to shareholders, which is mildly positive for investor confidence. The full deployment toward debt repayment supports balance sheet deleveraging, while the modest use of general corporate funds so far suggests disciplined deployment.