Escorts Kubota Limited confirms that there was absolutely no deviation or variation in the utilization of proceeds raised via Preferential Issues for the quarter ending December 31, 2025. The total funds raised were Rs. 1,872.745 Crores. The Audit Committee reviewed the statement and found no issues, confirming utilization aligned with the objects stated in the original Letter of Offer.
Confirmation of Compliance for Q3 FY2025-26
Escorts Kubota Limited has issued its mandatory statement regarding the utilization of funds raised through Preferential Issues for the quarter ended December 31, 2025. The company hereby confirms that there has been no deviation or variation in the deployment of these proceeds concerning the objects outlined in the initial Letter of Offer.
Key Figures from the Fund Utilization Statement
The total Amount Raised (in Crores) via the Preferential Issues was Rs. 1,872.745 Crores, stemming from the fundraising activity on February 18, 2022. The net proceeds, after deducting issuance expenditures of Rs. 17.440 crores, were directed towards the expansion of the agri-machinery business.
Object of Utilization
The primary original object for the funds was the expansion of its agri-machinery business, encompassing manufacturing, assembly, sales, marketing, financing, servicing, research, and development of various products, including tractors, combine harvesters, utility vehicles, and turf equipment.
- Original Allocation: Rs. 1,855.306 Crores*
- Funds Utilized (for the Quarter): Rs. 432.192 Crores
- Amount of Deviation / Variation: Nil
Audit and Review Confirmation
The statement confirming the absence of deviation was duly reviewed by the Audit Committee, which provided ‘No Comments’. Furthermore, the company confirms that there is no requirement for shareholder approval regarding any change in the terms or objects, as no variation occurred.
This declaration is signed by Bharat Madan, Whole-time Director and Chief Financial Officer, on February 10, 2026.
Source: BSE
