Jayaswal Neco Industries Limited has submitted a statement on deviation or variation in the utilization of funds raised through the issuance of Unlisted, Unrated, Secured, Redeemable, fully paid-up Non-Convertible Debentures (NCDs) on a private placement basis.

The company raised ₹1,800 Crores on December 12, 2025. The funds were intended for repayment of current outstanding debts (Non-Convertible Debentures), payment of costs, fees, and expenses related to the NCD issuance, and other corporate purposes.

As of December 31, 2025, the utilization details are as follows: ₹1,771.01 Crores were used for the repayment of outstanding NCDs, and ₹23.75 Crores were used for transaction costs. The remaining ₹5.24 Crores are available in the designated account for further debt refinancing transaction costs and other corporate purposes.

The statement, reviewed by the Audit Committee, confirms that there are no deviations or variations in the utilization of the raised funds as per the applicable objects.