Varroc Engineering Limited has submitted a statement to the stock exchanges confirming that there has been no deviation or variation in the utilization of funds raised through a ₹50 Crore Commercial Paper issuance. The funds were raised in Q2 FY 2026-27 and have been fully utilized as per the stated objectives in the company’s offer document. This filing ensures transparency regarding the company’s financial dealings and adherence to regulatory requirements.
Confirmation of Fund Utilization
Varroc Engineering Limited has officially confirmed that there has been no deviation or variation in the utilization of funds raised through its Commercial Paper issuance. This statement is submitted as per the requirements of Regulation 32 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of Fund Raising
The company raised an amount of ₹50.00 Crores through the issuance of Commercial Paper during the second quarter (Q2) of the financial year 2026-27. The date of allotment for this Commercial Paper was September 24, 2026.
Adherence to Stated Objectives
Varroc Engineering Limited explicitly states that the proceeds from this issuance have been fully utilized for the purpose originally stated in its offer document and General Information Document. There were no changes to the objects or purposes for which the funds were raised, nor was there any deviation in the amount of funds utilized against what was originally disclosed.
Quarterly Reporting
The confirmation pertains to the quarter ended September 30, 2026. The company has also affirmed that there were no other fund-raising activities undertaken during this quarter, apart from the Commercial Paper issuance mentioned.
Regulatory Compliance
This submission ensures compliance with SEBI circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, which mandates such disclosures to maintain transparency and investor confidence. The company has provided the Statement of NIL deviation(s) or variation(s) as Annexure A to its submission.
Source: BSE
