Balu Forge Industries Limited has submitted its statement regarding the utilization of funds raised through a preferential issue. For the quarter ended June 30, 2026, the company confirms there has been no deviation or variation in the use of proceeds as per the stated objects. The statement has been duly reviewed and approved by the company’s Audit Committee.
Fund Utilization Statement Filed
Balu Forge Industries Limited has officially informed stock exchanges about the utilization of funds raised through a preferential issue. According to the statement for the quarter ended June 30, 2026, the company reports that there has been no deviation or variation in how the proceeds were used, aligning with the objects outlined in the Private Placement Offer Letter.
Audit Committee Approval
The company’s Audit Committee has reviewed and approved this statement through a circular resolution dated August 14, 2026. This confirmation assures stakeholders that the funds raised are being deployed as intended without any discrepancies. The detailed breakdown of fund utilization for various objects, including plant and machinery, working capital, and general corporate purposes, shows full compliance with the original allocations, with zero deviation or variation reported for the quarter.
Source: BSE
