Chemtech Industrial Valves Limited submitted a regulatory filing to BSE Limited pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The disclosure confirms that proceeds raised through the conversion of warrants into equity shares pursuant to a preferential issue for the quarter ended June 30, 2026, were used exactly for the purposes stated in the original offer document. The company explicitly states there has been no material deviation in the use of these funds.
Key Financial Details
- Mode of Fund Raising: Preferential Issues
- Date of Raising Funds: March 27, 2026
- Amount Raised from Warrant Conversion: ₹7,50,00,000 (₹7.5 crore)
- Total Aggregate Amount (including earlier proceeds): ₹57,25,00,000 (₹57.25 crore)
- Amount Utilized: ₹20,50,00,000 (₹20.5 crore) for the quarter according to applicable objects
Transaction Background
The warrant conversion involved 5,00,000 warrants converted into equity shares at ₹200 per share (₹10 face value and ₹190 securities premium). Of the total consideration, 25% was received at the time of warrant issuance, while the balance 75% (amounting to ₹7.50 crore) was received upon conversion on March 27, 2026.
The aggregate amount of ₹57.25 crore includes proceeds received earlier during fund raising via allotment of equity shares on preferential mode.
Purpose of Funds
The funds were raised for long-term funding for:
- Capital expenditure
- Working capital
- General corporate purposes
Governance Review
The Audit Committee reviewed and noted the statement of no deviation at its meeting held on August 12, 2026. The statement was signed by Aarohi Pareek, Company Secretary & Compliance Officer, on August 12, 2026.