Websol Energy System Limited has submitted its statement on deviation or variation in the utilization of funds raised. For the quarter ended June 30, 2026, the company confirms that there has been no deviation or variation in the utilization of equity shares allotted pursuant to the conversion of warrants from a preferential issue. The statement was filed in compliance with SEBI regulations.
Statement on Fund Utilization
Websol Energy System Limited has issued a formal statement regarding the utilization of funds raised through a preferential issue for the allotment of equity shares against the conversion of warrants. This statement covers the financial quarter ending June 30, 2026.
Confirmation of No Deviation
In its filing, the company explicitly confirms that there has been no deviation or variation observed in the utilization of the funds raised. The funds in question were secured through the allotment of equity shares following the conversion of warrants, issued on a preferential basis. The company assures stakeholders that all funds have been utilized as per the original disclosures and approved purposes, maintaining transparency and adherence to regulatory requirements.
Breakdown of Fund Allocation
The statement further details the allocation of funds across various purposes. For Debt Repayment, an original allocation of ₹6.00 Crores was made, and the entire amount was utilized as planned, with no deviation.
Similarly, for the Expansion of Renewable Energy Project, an original allocation of ₹42.10 Crores was designated. Out of this, ₹39.23 Crores were utilized during the quarter. The remaining balance funds have been placed in a liquid state and are earmarked for future utilization towards this specific object. This approach ensures financial flexibility while maintaining focus on the project’s objectives.
Under the category of General Corporate Purpose, an allocation of ₹16.03 Crores was planned, and the full amount was utilized, again with no deviation reported.
The company requests that this statement be taken on record by the concerned authorities, reinforcing their commitment to accurate and timely financial reporting.
Source: BSE
