Kesar India Limited submitted a regulatory compliance statement to BSE Limited regarding the utilization of proceeds from its preferential issue. The filing was made pursuant to Regulation 32 of the SEBI Listing Regulations and SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019.
The company confirmed that there were no deviations or variations in the utilization of preferential issue proceeds during the quarter and half year ended September 30, 2026. The preferential issue raised funds amounting to ₹273.72 crore (₹27,371.95 lakhs) on September 18, 2025.
Fund Utilization Details
The funds were utilized exactly as per the original allocation:
- Conversion of Unsecured Loan into Warrants: Original allocation ₹11.00 crore (₹1,100.00 lakhs), utilized ₹11.00 crore (₹1,100.00 lakhs)
- Land Acquisition and Project Development: Original allocation ₹194.29 crore (₹19,428.96 lakhs), utilized ₹158.94 crore (₹15,893.78 lakhs)
- General Corporate Purposes: Original allocation ₹68.43 crore (₹6,842.99 lakhs), utilized ₹63.42 crore (₹6,342.27 lakhs)
Monitoring and Approval
CRISIL Ratings Limited serves as the monitoring agency for the fund utilization. The statement was reviewed by the company's Audit Committee and subsequently taken on record by the Board of Directors at their respective meetings held on November 04, 2026.
The filing confirms zero deviation/variation amount across all utilization categories and notes that shareholder approval for changes was not applicable as no deviations occurred.