Websol Energy System Limited has submitted its Statement of Deviation or Variation for the quarter ended September 30, 2026. The company formally confirmed that there has been no deviation or variation in the utilisation of funds raised through the preferential issue of equity shares, which were issued pursuant to the conversion of warrants. The total amount raised was ₹64.13 Cr.
Confirmation of Fund Utilisation
Websol Energy System Limited has provided its quarterly statement regarding the utilisation of funds raised. For the quarter ended September 30, 2026, the company reported that all funds raised through a preferential issue of equity shares, stemming from the conversion of warrants, have been utilised as per the original plan. The total amount raised in this issuance was ₹64.13 crore.
Details of Fund Raising
The funds were raised on March 13, 2026. The primary objectives for which the funds were raised included Debt Repayment (original allocation: ₹6.00 Cr), Expansion of Renewable Energy Project (original allocation: ₹42.10 Cr), and General Corporate Purpose (original allocation: ₹16.03 Cr). In all categories, the actual utilisation matches the allocated amounts, with no deviations reported.
No Deviation Noted
The statement explicitly confirms that there has been no deviation or variation in the utilisation of these funds. The company has requested that this confirmation be taken on record by the stock exchanges. Comments from the Audit Committee and the auditors also indicate no concerns regarding the fund utilisation for the period.
Source: BSE
