Cargotrans Maritime Limited confirmed there is no deviation or variation in how it plans to use the funds raised from its Preferential Issue of equity shares and warrants.

The company raised 19.85 Cr through this issue on February 7, 2026. For the half-year ending March 31, 2026, the company reported that while the funds are yet to be utilized against the stated objectives of investing in a foreign subsidiary, repaying borrowings, and working capital needs, their intended application remains unchanged.

This confirmation was reviewed by the Audit Committee.