Key Quantitative Figures

  • Total Amount Raised: ₹1,175.11 lakhs through right issue
  • Total Amount Utilized: ₹1,160.68 lakhs as of March 31, 2026
  • Unutilized Amount: ₹14.43 lakhs (remaining from issue expenses)
  • Office Space Allocation: Originally ₹304.50 lakhs, fully reallocated to networth increase
  • Networth Increase Allocation: Originally ₹595.50 lakhs, modified to ₹900.00 lakhs after reallocation
  • General Corporate Purposes: ₹250.00 lakhs allocated and fully utilized
  • Issue Related Expenses: ₹25.11 lakhs allocated, ₹10.68 lakhs utilized

Dates and Regulatory References

  • Right Issue Date: January 13, 2025 (Letter of Offer date)
  • Reporting Period: Quarter ended March 31, 2026
  • Shareholder Approval Date: September 2025 (EGM approval for reallocation)
  • Filing Date: May 29, 2026
  • Regulatory Reference: SEBI LODR Regulations, 2015 - Regulation 32

Parties Involved

  • Stock Exchange: BSE Limited
  • Statutory Auditor: B T Vora & Co. (FRN: 123652W)
  • Auditor Signatory: C. A. Sheth, Partner (M. No. 180506)

Purpose and Rationale

The company disclosed a variation in fund utilization where proceeds originally allocated for 'Setting Up of Office Space' (Object 01) amounting to ₹304.50 lakhs were reallocated to 'Increase Networth of Company' (Object 02). This reallocation was approved by shareholders through a special resolution passed in an EGM held in September 2025.

Financial Impact and Utilization Breakdown

| Object | Original Allocation (₹ Lakhs) | Modified Allocation (₹ Lakhs) | Funds Utilized (₹ Lakhs) | Deviation Amount (₹ Lakhs) |

| Setting Up of Office Space | 304.50 | - | - | 304.50 |

| Increase Networth of Company | 595.50 | 900.00 | 900.00 | Not Applicable |

| General corporate purposes | 250.00 | Not Applicable | 250.00 | Not Applicable |

| Issue related Expenses | 25.11 | Not Applicable | 10.68 | Not Applicable |

Approval and Compliance

  • The Audit Committee noted and approved the deviation/variation
  • The Statutory Auditor (B T Vora & Co.) certified the utilization of proceeds
  • The variation was pursuant to shareholder approval obtained in September 2025 EGM

Capital Structure Impact

The reallocation resulted in increased networth of the company by ₹900.00 lakhs instead of the originally planned ₹595.50 lakhs, with no dilution impact as the funds were from right issue proceeds.