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BSE SENSEX
79,117.11
+1,961.32
+2.54 %
Corporate Announcement
Security Code
539533
Company
Elitecon International Ltd
Exchange Received Time
14/11/2024 20:04:53
Exchange Disseminated Time
14/11/2024 20:04:53
Time Taken
00:00:00
Statement Of Deviation Or Variation For The Quarter Ended On September 30, 2024. |
11/14/2024 8:04:53 PM
Pursuant to Regulation 32 of the SEBI (LODR) Regulations, 2015 as amended read with SEBI circular no. CIR/CFD/CMD1/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended on September 30, 2024, there was no deviation or variation in the utilisation of proceeds of issuance of Convertible Warrants from the objects stated in the notice calling the Extraordinary General Meeting of the members of the Company except the following: Originally the approved amount to be raised through the preferential allotment was Rs. 158.50 Crores by issue of 15.85 crores warrants. However, the Company received applications for only 13.60 crores warrants. Considering the full conversion of the warrants, the revised amount to be raised was Rs.136 crores. The Board of Directors of the Company accordingly revised the objects of the issue and reduced the amount to be utilized for working capital requirements from Rs. 50 crores to Rs. 27.50 crores.
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