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W.S. Industries redirected funds from a Rs. 99.43 crore equity share issue, India Ratings monitors
10-Aug-2026, 09:42
W.S. Industries (India) Limited reported variations in the utilization of funds raised through preferential share issues and convertible warrants in a filing for the quarter ended June 30, 2026. While shareholder approvals were obtained for these adjustments, the company deviated from the original plan for a Rs. 99.43 crore equity share issue, shifting funds away from land acquisition and working capital and allocating more towards the redemption of non-convertible debentures. A significant portion of convertible warrants, 18,66,222, representing nearly 76% of the initial allotment, lapsed and were forfeited due to non-exercise within the stipulated 18-month period. India Ratings and Research Pvt. Ltd. serves as the monitoring agency for several of these issues, and the statements were prepared in compliance with SEBI (ICDR) Regulations.
W.S. Industries (India) Limited reported variations in the utilization of funds raised through preferential share issues and convertible warrants in a filing for the quarter ended June 30, 2026. While shareholder approvals were obtained for these adjustments, the company deviated from the original plan for a Rs. 99.43 crore equity share issue, shifting funds away from land acquisition and working capital and allocating more towards the redemption of non-convertible debentures. A significant portion of convertible warrants, 18,66,222, representing nearly 76% of the initial allotment, lapsed and were forfeited due to non-exercise within the stipulated 18-month period. India Ratings and Research Pvt. Ltd. serves as the monitoring agency for several of these issues, and the statements were prepared in compliance with SEBI (ICDR) Regulations.