Avro India Limited has submitted a regulatory filing pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155. The company confirms there has been no deviation or variation in the use of funds raised through preferential issue of warrants from the objects stated in the explanatory statement to the Notice of the Extra Ordinary General Meeting dated 28th August, 2024.

Key Financial Details

  • Mode of Fund Raising: Preferential Issue
  • Date of Raising Funds: 18th April, 2026 (allotment date)
  • Amount Raised: ₹101.25 lakh
  • Reporting Quarter: 30th September, 2026
  • Monitoring Agency: Not applicable

Warrant Conversion Details

The Audit Committee's review comments disclose specific details about the warrant conversion:

  • The company received balance amount of ₹101.25 lakhs upon conversion of 106,090 equity shares
  • Amount of ₹1,34,99,985.32 was forfeited due to non-receipt of balance amount
  • Consequently, 424,361 warrants were lapsed

Fund Utilization Against Original Objects

| Original Object | Modified Allocation (₹ in Lakh) | Funds Utilized (₹ in Lakh) | Amount of Deviation | Remarks |

| Purchase of new machines for capacity expansion in both plastic furniture and recycling | 700.00 | 0.00 | 0.00 | The Company has already used the amount of ₹601.93 lakhs out of ₹993.75 lakhs received earlier from issue of 648,330 equity shares and 530,451 warrants (25% upfront payment) |

| Meeting Working Capital requirements | 500.00 | 25.00 | 0.00 | The Company has already used the amount of ₹309.57 lakhs out of ₹993.75 lakhs received earlier from issue of 648,330 equity shares and 530,451 warrants (25% upfront payment) |

| Enhancing Brand visibility | 200.00 | 22.59 | 0.00 | The Company has already used the amount of ₹9.83 lakhs out of ₹993.75 lakhs received earlier from issue of 648,330 equity shares and 530,451 warrants (25% upfront payment) |

| General corporate purpose | 100.00 | 0.00 | 0.00 | The Company has already used the amount of ₹72.42 lakhs out of ₹993.75 lakhs received earlier from issue of 648,330 equity shares and 530,451 warrants (25% upfront payment) |

Additional Information

  • The statement was duly reviewed by the Audit Committee of the Company
  • No auditor comments were provided in the filing
  • The document was signed by Sushil Kumar Aggarwal, Chairman & Whole Time Director (DIN: 00248707)