Master Trust Limited — Others, 13-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Master Trust Limited has announced a board meeting to discuss the financial results for the quarter and half-year ended on December 31, 2024. The company reported no material deviation in the utilization of funds raised through a preferential issue of 28,50,000 convertible warrants priced at Rs. 350 each, totaling Rs. 99.75 crore. As of now, 7,00,000 warrants have been exercised, converting into equity shares. The remaining 21,50,000 warrants are pending conversion, which could lead to a significant dilution of shares in the future.

This update may instill investor confidence given the effective use of funds and timely conversion of warrants, indicating positive capital management strategies within the company. However, the pending warrants introduce potential dilution risks, warranting careful monitoring.