Statement of Deviation and Variation for the quarter ended June 30, 2025
WELSPLSOL · price
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Welspun Specialty Solutions Limited has filed a quarterly compliance statement confirming that there is no deviation or variation in the use of funds raised through its Rights Issue. The company had raised Rs. 349.85 Crores on March 24, 2025, by issuing 13.25 crore equity shares at Rs. 26.40 per share. The funds were allocated as follows: Rs. 284 Crores for repayment/prepayment of borrowings, Rs. 63.56 Crores for general corporate purposes, and Rs. 2.29 Crores for issue-related expenses. The full amount of Rs. 284 Crores for debt repayment has already been utilized, while the balance remains pending deployment. The statement was reviewed by the Audit Committee, which had no comments, and CARE Ratings Limited served as the monitoring agency.
This is a routine compliance filing confirming proper use of Rights Issue proceeds as originally disclosed, with no negative news. Shareholders can take comfort that funds are being used as promised, particularly the full repayment of borrowings which may help reduce interest costs going forward.