Key Quantitative Figures
- Total Funds Raised: ₹1,656.25 lakh (through preferential issue of warrants)
- Funds Utilized for Expansion Plans & Working Capital: ₹1,242.19 lakh (exactly as allocated)
- Funds Utilized for General Corporate Purpose: ₹414.06 lakh (exactly as allocated)
- Total Funds Utilized: ₹1,656.25 lakh (100% of raised amount)
Dates of Action
- Warrant Issue Approval Date: September 25, 2024 (Board meeting)
- Warrant Conversion Date: March 15, 2025 (equity shares allotted)
- Reporting Period: Half year ended March 31, 2026
- Audit Committee Meeting Date: May 26, 2026
- Filing Date: May 26, 2026
Fund Raising Details
- Mode of Fund Raising: Preferential Issue
- Instrument: 31,25,000 Warrants convertible into equal number of Equity Shares of ₹10 each
- Issue Price: ₹53 per warrant (including premium of ₹43 per warrant)
- Allottees: Promoter & Non-Promoter Public
- Payment Terms: 25% of issue price received from allottees as per SEBI regulations
Utilization Confirmation
There is no deviation or variation in the utilization of funds raised through the warrant issue (converted to equity) as mentioned in the Offer Letter dated September 17, 2024. The funds have been utilized exactly as originally allocated:
- ₹1,242.19 lakh for "To meet expansion plans activities & working capital requirements"
- ₹414.06 lakh for "General Corporate Purpose"
Audit Committee Review
The Audit Committee of the Company reviewed the fund utilization in its meeting held on May 26, 2026 and confirmed that there is no deviation/variation in the use of funds raised.
Additional Information
- Monitoring Agency: Not Applicable
- Shareholder Approval: Not Applicable (no deviation)
- Auditor Comments: No Comments
- Geographical Location: Surat