Expo Engineering filed a SEBI LODR Reg. 32 compliance statement confirming no deviation in the use of ₹22.02 crore raised via a preferential issue of convertible warrants.
The company received only the 25% upfront payment of ₹5.50 crore in Q2 FY26; the remaining 75% is payable upon warrant conversion within an 18-month tenure.
The Audit Committee reviewed and confirmed no variation from the stated objects for working capital, corporate purposes, and debt repayment to Saraswat Bank.
This is a nil deviation statement for the quarter ended March 31, 2026, pursuant to SEBI Circular CIR/CFD/CMD/11162/2019.