Key Quantitative Figures
- Total Issue Size: Rs 22,02,00,050 (Twenty-Two Crores Two Lacs Fifty)
- Instrument: 31,45,715 (Thirty-One Lacs Forty-Five Thousand Seven Hundred Fifteen) Convertible Warrants
- Face Value: Rs 4 per warrant
- Issue Price: Rs 70 per warrant (including premium of Rs 66 per warrant)
- Amount Received as of 30th September 2025: Rs 5,50,50,012 (25% upfront consideration)
- Balance Pending: 75% (Rs 52.50 per warrant) to be received upon conversion
Parties Involved
- Regulator: SEBI, Bombay Stock Exchange
- Intended Use Entities: Saraswat Bank and other banks (for debt repayment)
Purpose/Rationale
Funds were raised through preferential issue of convertible warrants to augment working capital needs for purchase of raw materials/consumables and for general corporate purposes including repayment of existing debts to Saraswat Bank and other banks.
Financial Impact
No deviation or variation in the utilization of proceeds from the objects mentioned in the EGM notice. The statement confirms nil deviation for the quarter ended 30th June 2026.
Capital Structure Impact
- Warrant Tenure: 18 months from issuance
- Conversion Terms: Warrant holders may convert to equity shares during the 18-month tenure
- Q1 FY26 Activity: No proceeds received towards conversion of warrants into equity shares during quarter ended 30th June 2026
Fund Utilization Details
| Object of Utilization | Amount Allocated (Rs Cr) | Amount Utilized (Rs Cr) | Deviation |
| Working Capital Needs | 5.02 | 3.82 | Not Applicable |
| General Corporate Purposes | 3.00 | 0.87 | Not Applicable |
| Repayment to Saraswat Bank & Other Banks | 14.00 | 0.00 | Not Applicable |
| Total | 22.02 | 4.69 | |
Additional Information
The statement was reviewed by the Audit Committee and is available on the company website at www.expogas.com.