Welspun Enterprises Limited has confirmed that there was no deviation or variation in the utilization of proceeds from convertible warrants during the quarter ended June 30, 2026 (Q1 FY27). This statement, duly reviewed by the Audit Committee and the Board of Directors, was submitted to the stock exchanges as per SEBI regulations. A detailed statement is enclosed, outlining the fund utilization against original objectives.
Confirmation of No Fund Deviation for Q1 FY27
Welspun Enterprises Limited has officially communicated to the stock exchanges that there was no deviation or variation in the utilization of funds raised through the issuance of convertible warrants via a preferential issue on a private placement basis. This confirmation pertains to the financial quarter ended June 30, 2026.
Regulatory Compliance and Reporting
The disclosure is made in accordance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular. The company has provided a detailed statement, enclosed as “Annexure-A”, which has been reviewed and approved by the Audit Committee and the Board of Directors of the Company. These bodies met on August 4, 2026, to review the financial statements and ensure compliance.
Fund Utilization Details
The enclosed Annexure-A provides a breakdown of the funds raised and their utilization. For the quarter ended June 30, 2026, the total funds raised amounted to Rs. 1,000 Crore. The initial objective for a portion of these funds was the Infusion of funds for Construction of a 6-Lane Partially Elevated Highway Corridor from Km. 10+600 to Km. 64+000 in Maharashtra, on a DFBOT (Toll) Mode with a concession period of 29 years. The amount allocated for this project was Rs. 750.00 Crore.
Another portion of the funds was earmarked for General Corporate Purposes, with an allocation of Rs. 250.00 Crore. As of June 30, 2026, the company had received 25% of the issue size, aggregating to Rs. 250 Crore, as upfront consideration. This amount, calculated at Rs. 131.25 per warrant for 1,90,47,619 warrants, remained unutilized as of the reporting date. The remaining 75% of the issue size is to be received upon the exercise of conversion options by warrant holders within 18 months from the allotment date.
Accessibility of Information
The information regarding the deviation or variation in fund utilization is also made available on the company’s official website at www.welspunenterprises.com for public access.
Source: BSE
