Rudra Ecovation Ltd — Updates, 29-05-2025: Company Update

Rudra Ecovation has announced a board meeting to review the utilization of funds raised through a preferential issue of convertible warrants. The company raised ₹4.81 Cr upon conversion of 13.35 lakh warrants, which will be used to acquire equity in Shiva Texfabs Limited, supporting its expansion pending a proposed merger. There have been no deviations or variations in the use of these funds compared to the objectives stated in the offer document. The Audit Committee reviewed and took note of the fund utilization, with no adverse comments from auditors. This reassures investors about disciplined capital allocation toward strategic growth.