Disclosure Context

Aplab Limited submitted a regulatory filing to BSE Limited on October 30, 2026, intimating the utilization of Rights Issue proceeds and providing the Monitoring Agency Report for the quarter ended September 30, 2026, pursuant to SEBI ICDR Regulations.

Rights Issue Details

  • Issue Type: Rights Issue of 1,25,70,000 Equity Shares of ₹10 each
  • Issue Price: ₹19 per share (including premium of ₹9 per share)
  • Amount Called: ₹5 per share (including premium of ₹2.50 per share) during Q2 FY2026
  • Record Date: May 29, 2025
  • Issue Period: June 4, 2025 to July 3, 2025
  • Total Proposed Issue Size: ₹23.88 crores
  • Net Proceeds for Monitoring: ₹23.38 crores (after deducting estimated issue expenses of ₹0.50 crore)

Utilization Summary

  • Total Amount Raised: ₹6.29 crore (from called portion only)
  • Total Amount Utilized: ₹6.29 crore (100% utilization)
  • Total Unutilized Amount: ₹0.00
  • Balance Amount Yet to be Called: ₹14.00 per share aggregating to ₹17.59 crore

Monitoring Agency Report

Agency: Infomerics Valuation and Rating Limited

Report Date: October 29, 2026

Period Covered: Quarter ended September 30, 2026

Key Findings:

  • No deviations from objects stated in the Letter of Offer dated May 27, 2025
  • No utilizations made during Q2 FY2027 (July-September 2026)
  • All government/statutory approvals obtained
  • No changes in means of finance for disclosed objects
  • No favorable or unfavorable events affecting object viability

Object-wise Utilization Details

1. Working Capital Requirements

  • Original Cost: ₹15.00 crore
  • Amount Utilized: ₹3.03 crore (fully utilized during Q2 FY2026)
  • Purpose: Funding working capital requirements with projected improvement in Trade Payable Days (from 101 to 76) and Trade Receivable Days (from 142 to 95)

2. Repayment of Loan

  • Original Cost: ₹2.75 crore
  • Amount Utilized: ₹2.75 crore (fully utilized during Q2 FY2026)
  • Lender: M/s Laxmimanak Finance Pvt. Ltd.
  • Status: Completed with no delay

3. General Corporate Purpose

  • Original Cost: ₹5.63 crore
  • Amount Utilized: ₹0.26 crore (fully utilized during Q2 FY2026)
  • Purpose: Various business purposes including growth opportunities, ordinary business expenses, working capital, brand building, and other permitted purposes

Implementation Status and Delay Explanation

The Letter of Offer proposed complete utilization during FY2026, but only ₹5.00 per share was called during Q2 FY2026. No further calls were made in Q3 FY2026, Q4 FY2026, Q1 FY2027, and Q2 FY2027. The non-utilization of entire proposed proceeds by FY2026 is not considered a deviation as the offer document allows utilization in subsequent fiscals due to factors beyond company's control.

Verification and Certifications

  • Statutory Auditors: M/s. R. Bhargava & Associates, Chartered Accountants
  • CA Certificate Date: October 16, 2026
  • Management Declaration Date: October 12, 2026
  • Remarks: No deviations from expenditure as per applicable objects

Company Business

Aplab Limited is engaged in industrial power electronics business, centered around design, control, and conversion of electrical power for various industrial requirements.