Axel Polymers Limited has submitted its statement of deviation or variation in the utilisation of funds raised from a preferential issue for the quarter ended June 30, 2026. The company confirmed that there has been no deviation or variation in the utilisation of the net proceeds. The preferential issue of equity shares was allotted on December 13, 2025, with total proceeds amounting to ₹11,17,99,980.
Axel Polymers Reports on Fund Utilisation
Axel Polymers Limited has officially addressed the utilisation of funds raised through a preferential issue. In a statement filed for the quarter ending June 30, 2026, the company explicitly confirmed that there have been no deviations or variations in how the proceeds from the issue have been used.
Preferential Issue Details
The preferential issue of equity shares, which raised a total of ₹11,17,99,980, was allotted on December 13, 2025. The company has provided a detailed breakdown of fund utilisation against the originally allocated objects. The report, audited by Mukund & Rohit, Chartered Accountants, signifies adherence to the fund utilisation plan.
Fund Utilisation Breakdown
For the quarter ending June 30, 2026, the company reported full utilisation as per the allocation for Working Capital Requirements (₹6,70,79,988). Similarly, the allocated funds for Capital Expenditure (₹2,23,59,996) and General Purpose (₹2,23,59,996) were also fully utilised as of March 31, 2026, according to the remarks provided.
The statement was submitted to the BSE Limited as per the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
