Fund Raising Details

Preferential Allotment of Equity Shares:

  • Amount raised: ₹7,62,50,000
  • Date of raising funds: August 26, 2022
  • Quarter covered: September 30, 2026

Warrant Conversion Proceeds:

  • Amount raised through warrant conversion: ₹9,19,02,096
  • This represents 25% of total consideration for 76,58,508 warrants converted to equity shares
  • Warrant allotment date: May 16, 2026
  • These funds remain unutilized as of September 30, 2026

Deviation Details

Status: Partial deviation/variation in use of preferential issue proceeds

Shareholder Approval: Obtained on June 13, 2025 for change in terms/objects

Explanation for Deviation: The Company is looking to invest and expand its business through both organic and inorganic growth via roll-up acquisitions. Management believes the time is ripe for roll-up investments in other companies and firms, with returns on investment looking significantly good. The company aims at other inorganic acquisitions as required in the due course of business.

Fund Utilization Breakdown

Original Object: Company's growth capital requirements, capital expenditure, enhancing long-term resources, strengthening financial structure, working capital requirements, and general corporate purposes

Modified Objects:

1. Acquisition or investment in foreign entity named 'International Logistics Associates LLC' (ILA)

  • Original allocation: ₹7,62,50,000
  • Modified allocation: ₹7,62,50,000
  • Funds utilized: ₹1,44,69,974
  • Amount of deviation: ₹1,44,69,974
  • Remarks: The Company had completed the investment in 98% stake of ILA

2. Other inorganic acquisitions if necessary

  • Original allocation: ₹7,62,50,000
  • Modified allocation: ₹7,62,50,000
  • Funds utilized: ₹0
  • Amount of deviation: ₹0

3. Working capital requirements of the company

  • Original allocation: ₹7,62,50,000
  • Modified allocation: ₹7,62,50,000
  • Funds utilized: ₹0
  • Amount of deviation: ₹0

4. Other General corporate purposes

  • Original allocation: ₹7,62,50,000
  • Modified allocation: ₹7,62,50,000
  • Funds utilized: ₹0
  • Amount of deviation: ₹0

Additional Information

  • Monitoring Agency: Not Applicable
  • Audit Committee Comments: Not Applicable
  • Auditor Comments: Not Applicable
  • The statement has been reviewed by the Audit Committee of the Company