Key Quantitative Figures

  • Gross Proceeds from Rights Issue: ₹14.89 crores (₹1489.66 lakhs)
  • Issue Related Expenses: ₹0.30 crores (₹30 lakhs)
  • Net Proceeds Available for Utilization: ₹14.59 crores (₹1459.66 lakhs)
  • Total Funds Utilized as of June 30, 2026: ₹12.54 crores (₹1254.22 lakhs)
  • Unutilized Amount: ₹2.05 crores

Dates of Action

  • Rights Issue Period: May 25, 2026 to June 4, 2026
  • Date of Allotment: June 6, 2026
  • Monitoring Report Date: August 12, 2026
  • Company Disclosure Date: August 13, 2026
  • Auditor Certificate Date: July 20, 2026
  • Management Declaration Date: August 10, 2026

Parties Involved

  • Issuer: Steelco Gujarat Limited (Scrip Code: 500399, ISIN: INE629B01032)
  • Promoter: Sainaisha Traders Pvt Ltd
  • Monitoring Agency: Infomerics Valuation and Rating Limited
  • Statutory Auditor: M Sahu & Co. Chartered Accountants (FRN: 130001W)
  • Bank: ICICI Bank (Monitoring Account)

Utilization Details

Working Capital Requirements

  • Allocated Amount: ₹11.59 crores
  • Utilized During Quarter: ₹11.59 crores
  • Cumulative Utilization: ₹11.59 crores (100% of allocated amount)
  • Purpose: Payments to vendors towards working capital requirements
  • Completion Status: Fully implemented in Q1 FY27 with no delay

General Corporate Purpose

  • Allocated Amount: ₹3.00 crores
  • Utilized During Quarter: ₹0.95 crores
  • Cumulative Utilization: ₹0.95 crores
  • Unutilized Amount: ₹2.05 crores
  • Breakdown of Utilization:
  • Logistics and freight: ₹0.23 crores
  • Staff Salary: ₹0.15 crores
  • Director sitting fees: ₹0.01 crores
  • Miscellaneous Payment: ₹0.56 crores
  • Completion Status: Ongoing, expected completion FY2027

Deployment of Unutilized Proceeds

  • Instrument: Balance in ICICI Bank Monitoring Account
  • Amount: ₹2.05 crores
  • Market Value as of June 30, 2026: ₹2.05 crores

Verification and Certification

  • Statutory Auditor M Sahu & Co. verified utilization through CA certificate dated July 20, 2026
  • Management declaration provided dated August 10, 2026
  • Auditor remark: "No deviations from expenditure disclosed in the Offer document"
  • Monitoring agency confirmation: Utilization in accordance with objects of the issue

Capital Structure Impact

  • Number of Equity Shares Issued: 13,30,060 shares
  • Issue Price: ₹112 per share (including premium of ₹102.00)
  • Total Capital Raised: ₹14.89 crores