Valiant Labs Gets ₹12.53 Cr GST Show-Cause Notice

Valiant Laboratories receives GST demand notice of ₹12.53 crores from CGST authorities over IPO expenses, turnover mismatch, and corporate guarantee issues dated January 14, 2026.

Valiant Laboratories Board Addresses Stock Exchange Fine for Rights Issue Committee Meeting Delay

Valiant Laboratories Limited's Board of Directors reviewed and commented on fines imposed by BSE Limited and National Stock Exchange for non-compliance with listing regulations. The company was penalized for delayed prior intimation of a Rights Issue Committee Meeting held on July 15, 2025. The Board stated the non-compliance was not deliberate and resulted from practical challenges in scheduling the committee meeting. The Rights Issue Committee was authorized to determine key terms including issue price, record date, and entitlement ratio. The committee meeting was scheduled promptly after receiving in-principle approvals from stock exchanges (NSE approval on July 11, 2025, and BSE approval on July 14, 2025). Both stock exchanges imposed fines of ₹2,11,800 each (inclusive of GST), which the company paid on August 20, 2025, within prescribed timelines. The Board considers the matter fully complied with and closed.

Valiant Laboratories Reports Appropriate Utilization of Rights Issue Proceeds for Quarter Ended September 2025

Valiant Laboratories Limited submitted its monitoring agency report for the quarter ended September 30, 2025, confirming appropriate utilization of funds raised through its rights issue. India Ratings and Research Private Limited, serving as the monitoring agency, reported no deviation from the stated objects of the rights issue. The company raised funds through 1,08,62,500 rights issue equity shares at INR 75 per share with a face value of INR 10 each. The proceeds were utilized for adjustment of unsecured loans of promoter/promoter group (INR 5,800.51 lakhs), repayment of outstanding loans of existing promoters (INR 139.51 lakhs), capital expenditure (INR 1,956.48 lakhs), general corporate purposes (INR 1,674.22 lakhs), and issue-related expenses (INR 70.00 lakhs). The report was reviewed by the Audit Committee and Board of Directors. Unutilized funds totaling INR 270.00 lakhs were deployed in fixed deposits with banks.