The Company had allotted equity shares on a preferential basis.
The consideration for the allotment was other than cash, specifically a swap of shares.
Financial and Regulatory Implications
No cash proceeds were raised by the Company from this issuance of equity shares.
Consequently, there were no proceeds available for utilization.
The Company states that a Statement of Deviation(s) or Variation(s) in the utilization of funds under Regulation 32 of SEBI LODR is not applicable for the quarter ended 31st March 2026.
