Regulatory Filing Details

Key Compliance Statement

The company confirms that there is no deviation or variation in the use of proceeds from the objects stated in the Letter of Offer for the Rights Issue of the Company dated April 08, 2022. The statement for the quarter ended June 30, 2026 has been duly reviewed by the Audit Committee.

Rights Issue Details

Mode of Fund-Raising: Rights Issue

Amount Raised: Rs. 343.56 crore (net of right issue expense)

Fundraising Periods:

  • April 26, 2022 to May 10, 2022
  • April 01, 2024 to April 15, 2024
  • April 01, 2025 to April 30, 2025

(On application, first call and second & final call respectively)

Monitoring Agency: CARE Ratings Limited

Utilization of Funds

As per the Special Resolution passed on June 07, 2025, the funds were utilized for the following objects:

  • Product Development: Rs. 37.50 crore allocated, Rs. 13.87 crore utilized
  • Product Marketing: Rs. 31.00 crore allocated, Rs. 10.41 crore utilized
  • Identified Investments: Rs. 156.70 crore allocated, Rs. 196.12 crore utilized
  • Funding Inorganic growth initiatives and general corporate purposes (GCP): Rs. 113.87 crore allocated, Rs. 118.67 crore utilized

Total: Rs. 339.07 crore allocated, Rs. 339.07 crore utilized

Share Issuance Details

During financial year 2022-23, the Company issued 4,29,44,533 equity shares of face value of INR 5/- each on right basis. The issue terms included:

  • INR 20/- per Rights Equity Share (including a premium of INR 18.75 per share) received on application

Call Payments:

  • First call of INR 30/- per Rights Equity Share (including premium of INR 28.13 per share) made in March 2024
  • As of March 31, 2025, aggregate amount of INR 763.58 lakhs (including premium amount of INR 715.88 lakhs) remained unpaid against First call
  • Trading of 4,03,99,270 partly paid shares effective from May 7, 2024
  • Second and Final call of INR 30 per Rights Equity Share (including premium of INR 28.12 per share) made in March 2025 along with reminder for unpaid First call money

Quarter Ended June 2026 Update

During the quarter ended June 2026, the Company received INR 16 Lakhs, which includes:

  • INR 1 Lakh pertaining to interest earned on arrear call payments from investors
  • Balance INR 15 Lakhs represents net proceeds (absence of issue expenses in Q1FY27)

Outstanding Shortfall: As of June 30, 2026, a shortfall of INR 145 Lakhs remained pending from shareholders.