Apollo Ingredients Limited Reports Deviation in Rights Issue Fund Utilization for Q3 FY26
Apollo Ingredients Limited reported significant deviations in its ₹5.00 crore rights issue fund utilization for Q3 FY26, with ₹3.00 crore used for advance lease payments instead of the originally planned raw material procurement. The monitoring agency identified a 50-75% deviation range and noted the absence of proper shareholder approval for changing the issue objectives. While related party transaction approval was obtained at the September 2025 AGM, the company failed to secure specific approval for altering the stated use of proceeds, raising regulatory compliance concerns.
