Disclosure Context
Regulatory Reference: Disclosure under Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pursuant to SEBI circular CIR/CFD/CMD1/162/2019 dated 24th December, 2019 as amended.
Purpose: Statement of Deviation or Variation in utilization of proceeds from preferential issue.
Fund Utilization Confirmation
The company confirms there is no deviation and/or variation in the utilization of proceeds from the objects mentioned in the notice of Extra Ordinary General Meeting held on 14th June 2026.
Preferential Issue Details
Instrument: 65,00,000 (Sixty Five Lakh) Convertible warrants
Issue Price: ₹56.84 per warrant (including Warrant Subscription Price and Warrant Exercise Price)
Total Potential Proceeds: ₹36,94,60,000 (upon full conversion of all warrants)
Amount Received to Date: ₹9,23,65,000 (25% of total consideration received from allottees)
Date of Raising Funds: 03/09/2026
Financial Allocation
Original Object Allocation:
- Capital Expenditure: ₹30,75,14,000
- Working Capital Requirements: ₹2,50,00,000
- General Corporate Purposes: ₹3,69,46,000
- Total: ₹36,94,60,000
Funds Utilized as of 30/09/2026: ₹9,23,65,000 exactly as per original allocation with no modifications.
Conversion Terms
Outstanding Amount: ₹27,70,95,000 payable by warrant holders at time of conversion
Conversion Period: Within 18 months from date of allotment
Governance & Compliance
Audit Committee Review: The statement of no deviation was duly reviewed by the Audit Committee
Monitoring Agency: Not applicable
Auditor Comments: None
Shareholder Approval: Not applicable (no deviation occurred)
Attachments
Annexure-A: Statement of Deviation or Variation in Utilisation of Funds Raised