Key Quantitative Figures
- Total Preferential Issue Size: ₹35,48,88,000 Crores
- Amount Received as of February 06, 2025 (75% of issue size): ₹26,61,60,000 Crores
- Balance Amount Pending (25%): To be received upon conversion of warrants into equity shares within 18 months
- Funds Utilized for Working Capital: ₹4,10,05,328.27
- October 2025 to March 2026: ₹1,46,80,864.27
- April 2026 to September 2026: ₹2,63,24,464.00
- Funds Utilized for Technology Investment/Capex: ₹39,44,99,999.97
- October 2025 to March 2026: ₹35,43,15,349.97
- April 2026 to September 2026: ₹4,01,84,650.00
- Funds Allocated for Sales and Marketing: ₹11,00,00,000.00 (Zero utilized as reported)
Dates of Action
- Date of Fund Raising/Allotment: February 6, 2026
- Reporting Period: Half year ended September 30, 2026
- Filing Date: November 13, 2026
Financial Impact
No deviation or variation in the utilization of proceeds from the objects stated in the notice of Postal Ballot Meeting. All funds have been utilized strictly according to the original allocation:
- Working capital for ADR and Related Services (Salaries and Other Day-to-Day Expenses): Fully utilized as allocated
- Technology development/Investment/Capex activities: Fully utilized as allocated
- Sales and Marketing Activities: Zero utilization against allocation of ₹11,00,00,000.00, but this does not constitute a deviation as per the disclosure
Audit Committee Review
The statement of deviation or variation has been duly reviewed by the Audit Committee of the Company and is enclosed as Annexure A to the filing.
Capital Structure Impact
The preferential issue involved convertible warrants. 75% of the total issue size (₹26,61,60,000 Crores) was received as upfront consideration. The balance 25% will be received upon conversion of warrants into equity shares during the 18-month warrant tenure.