IEL Limited submitted a regulatory compliance statement to BSE Limited pursuant to Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended 30th June 2026.
The company raised ₹43,17,21,894.20 (₹43.17 crore) through a Rights Issue on 5th March 2025. After deducting issue-related expenses of ₹47,65,988.70, the net proceeds available for utilization were ₹42,69,55,905.50.
Fund Utilization Details:
- Land Acquisition for Warehouses: Allocated ₹977.00 lakh, fully utilized ₹977.00 lakh (100%)
- Warehouse Construction: Allocated ₹2,414.31 lakh, utilized ₹0.00 lakh (0% unutilized)
- General Corporate Purposes: Allocated ₹925.91 lakh, fully utilized ₹925.91 lakh (100%)
Total Utilization Status:
- Total amount raised: ₹4,317.22 lakh
- Total utilized: ₹1,902.91 lakh (44.1%)
- Total unutilized: ₹2,414.31 lakh (55.9%)
The Audit Committee reviewed and approved the statement at their meeting held on Monday, 10th August 2026. The company confirmed there is no deviation or variation in the use of proceeds from the objects stated in the Letter of Offer dated 17th January 2025.
No monitoring agency was appointed for this fund raising. Both the Audit Committee and auditors had no comments on the utilization (stated as "Nil").
The certificate was digitally signed by Ajay B. Gupta, Managing Director (DIN: 07542693), and accompanied by an auditor's certificate from MAARK & Associates Chartered Accountants (FRN: 145153W) signed by Partner Manish Agarwal (Membership No. 612103).