Walchandnagar Industries Limited has filed its quarterly statement confirming no deviation in the use of proceeds raised through its preferential issue for the quarter ended December 31, 2025. The statement, submitted to stock exchanges on January 29, 2026, demonstrates the company's adherence to its original fund utilization plan as outlined in the Letter of Offer.

Fund Raising Details

The company raised Rs. 247.59 crores through the issue of fully convertible equity warrants on a preferential basis on November 03, 2023. The fund structure comprised Rs. 216.00 crores received from investors and Rs. 31.59 crores adjusted towards conversion of outstanding loans. ICRA Limited serves as the monitoring agency for the fund utilization.

Fund Utilization Breakdown

The proceeds have been allocated across five strategic objectives with specific utilization patterns:

Strategic Reallocation

The company implemented board-approved reallocations to optimize fund deployment. Rs. 4.00 crores was reallocated from capital expenditure to loan repayment, while Rs. 17.00 crores was shifted from capital expenditure to working capital requirements. Additionally, Rs. 21.00 crores from the capital expenditure allocation was utilized for loan repayment and working capital needs.

Compliance and Oversight

The Audit Committee reviewed the fund utilization in its meeting held on January 29, 2026, confirming compliance with regulatory requirements under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's auditors provided no adverse comments on the fund deployment strategy.

Current Status

As of December 31, 2025, the company has successfully utilized the raised funds according to its strategic priorities without any deviation from the approved objectives. The reallocations were executed through proper board resolutions, ensuring transparency and regulatory compliance throughout the process.

Walchandnagar industries Limited announced major corporate decisions following its Board of Directors meeting held on January 29, 2026. The board approved two significant resolutions under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marking important strategic moves for the company.

Registered Office Relocation

The board has approved relocating the company's registered office from its current Mumbai location to Pune. The move involves shifting from Flat No. 3, Walchand Terraces, Tardeo Road, Mumbai - 400 034 to Siddharth Towers, Building No.1, 9th Floor, S.No. 12/3-B, G. A. Kulkarni Path, Kothrud, Pune - 411 038.

This relocation also includes necessary amendments to the company's Memorandum of Association. The change complies with Section 12 of the Companies Act, 2013, read with Rules 25 and 27 of the Companies (Incorporation) Rules, 2014, which permits companies to change their registered office location subject to statutory requirements.

Leadership Continuity

The board re-appointed Mr. Chirag C. Doshi as Managing Director & CEO for an extended term. This decision was made based on the recommendation of the Nomination and Remuneration Committee.

Executive Profile and Experience

Mr. Chirag C. Doshi brings extensive experience to his continued leadership role, having worked with the company since 1997 in various capacities. His tenure has been marked by significant contributions to daily operations and strategic transformation initiatives. The company highlighted his role in the management's efforts to restore profitability and achieve long-term debt-free status.

The disclosure also revealed family relationships within the leadership structure. Mr. Chakor L. Doshi, who serves as Chairman, is the father of Managing Director & CEO Mr. Chirag C. Doshi. No other directorial relationships exist within the current board composition.

Regulatory Compliance

Both decisions align with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures were made pursuant to Regulation 30, read with Schedule III of the regulations and Circular No. /CFD/PoD2/CIR/P/0155 dated November 11, 2024. The re-appointment of the Managing Director & CEO requires shareholder approval as per corporate governance norms.