Best Agrolife Limited has submitted a Statement of Deviation(s) or Variation(s) concerning the utilization of funds raised through a Preferential Issue of Convertible Warrants for the quarter ended December 31, 2025. The company confirms that there has been no deviation or variation in the utilization of these funds. The funds were raised through a Preferential Issue of Convertible Warrants on December 27, 2024, with an initial amount of ₹150 crore. The original object for capital expenditure was ₹70 crore, with ₹50 crore approved and utilized. For working capital, the original object was ₹90 crore, with ₹120 crore approved and ₹90 crore utilized. For general corporate purposes, ₹10 crore was allocated and utilized. It was noted that the original issue size was reduced from ₹200 crore to ₹150 crore due to investors subscribing to 23,43,750 warrants instead of the initially planned 31,25,000. An upfront amount of ₹37.50 crore was expected, with ₹21 crore credited by December 26, 2024, and the remaining ₹16.50 crore received by March 31, 2025. The entire ₹150 crore raised has been utilized by the quarter ended June 2025.
