Key Quantitative Figures
IPO Details:
- Date of Fund Raising: November 09, 2022
- Issue Size: ₹400.00 Crore
- Expenses incurred: ₹26.97 Crore
- Net Proceeds Available: ₹373.03 Crore
QIP Details:
- Date of Fund Raising: January 19, 2024
- Issue Size: ₹500.00 Crore
- Expenses incurred: ₹13.35 Crore
- Net Proceeds Available: ₹486.65 Crore
Utilization Details
IPO Fund Utilization:
- Repayment/Prepayment of borrowings: Not Applicable
- Funding working capital requirements: ₹110.00 Crore utilized against ₹110.00 Crore allocated (No deviation)
- Investment in Wholly Owned Subsidiary (Raneal Advanced Systems Private Limited): ₹160.00 Crore utilized against ₹160.00 Crore allocated (No deviation)
- General Corporate Purposes (GCP): ₹83.23 Crore utilized against ₹58.15 Crore allocated (No deviation reported)
- Total IPO Utilization: ₹353.23 Crore utilized
QIP Fund Utilization:
- Investment in Subsidiary NIART Systems Ltd: ₹209.00 Crore utilized against ₹209.00 Crore allocated (No deviation)
- Investment in joint ventures and/or subsidiaries: ₹0.00 utilized against ₹200.00 Crore allocated (No deviation reported)
- General Corporate Purposes (GCP): ₹0.72 Crore utilized against ₹77.65 Crore allocated (No deviation reported)
- Total QIP Utilization: ₹209.72 Crore utilized
Regulatory and Governance Aspects
- Monitoring Agency: CARE Ratings Limited for both IPO and QIP
- Audit Committee Review: The statement was reviewed by the Audit Committee at its meeting held on May 27, 2026
- Audit Committee Comments: No Comments
- Auditors Comments: No Comments
- Shareholder Approval: Not Applicable (No deviation requiring approval)
Financial Impact Assessment
The disclosure confirms no deviation or variation in the utilization of funds from both IPO and QIP offerings. The company has utilized funds according to the objects stated in the respective offering documents.