Escorts Kubota confirms no deviation in preferential issue fund use

Escorts Kubota Limited announced on November 4, 2025, that there has been no deviation or variation in the use of proceeds from its preferential issues for the quarter ended September 30, 2025. The company confirmed compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, stating that funds were used as outlined in the Letter of Offer for Preferential Issues.

The report indicates that the company raised INR 1,872.745 Crores through preferential issues on February 18, 2022. Of the INR 1,855.306 Crores in net proceeds, INR 293.251 Crores have been utilized. These funds are earmarked for the expansion of its agri-machinery business, including manufacturing, assembly, sales, marketing, financing, servicing, research, and development of various equipment such as tractors, combine harvesters, utility vehicles, and engines.

Bharat Madan, whole-time director and chief financial officer, signed the statement, which was reviewed by the Audit Committee, confirming no deviation in the utilization of these proceeds.