Escorts Kubota Limited has officially confirmed that there has been no deviation or variation in the utilization of funds raised through its preferential issues. This statement pertains to the quarter ended June 30, 2026. The company’s Audit Committee has reviewed and approved the statement, ensuring transparency and adherence to the original objects stated in the Letter of Offer.
Confirmation of Fund Utilization
Escorts Kubota Limited has issued a formal statement regarding the utilization of proceeds from its recent preferential issues. As per the disclosure filed on August 3, 2026, the company confirms that there has been no deviation or variation in the use of these funds compared to the objectives initially outlined in the Letter of Offer.
Quarterly Compliance
This confirmation specifically covers the financial quarter that concluded on June 30, 2026. The company is reporting this compliance in accordance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statement detailing the absence of any deviation in fund utilization has undergone a thorough review by the company’s Audit Committee.
Commitment to Transparency
The attached statement provides a detailed breakdown, indicating that the funds raised, amounting to Rs. 1,872.745 Crores, were allocated for the expansion of its agri-machinery business. Out of the original allocation of Rs. 1,855.306 Crores*, Rs. 844.928 Crores have been utilized. The statement explicitly reports ‘Nil’ deviation for the quarter, reinforcing the company’s commitment to transparent financial practices and adherence to stated corporate objectives.
Source: BSE
