The funds were raised through a Rights Issue. The date of fund raising was September 15, 2026. The total amount raised was ₹59.96 crore.
A monitoring agency is applicable for this fund raising, identified as Brickwork Ratings India Private Limited.
The company explicitly states "No" to the question of whether there is a deviation/variation in the use of funds raised. Consequently, all subsequent fields related to shareholder approval, explanation for deviation, and comments from the Audit Committee and auditors are marked as "N.A." or "No".
The breakdown of fund utilization against the original objects is provided:
- Object 1: Augmenting our capital base to meet future business requirements of our Company Lending Business Activities
- Original Allocation: ₹46.20 Crores
- Modified Allocation: ₹0.00 Crores (N.A.)
- Amount Utilised: ₹14.75 Crores
- Deviation/Variation for the quarter: ₹0.00 Crores
- Remarks: Nil
- Object 2: General corporate purposes
- Original Allocation: ₹11.96 Crores
- Modified Allocation: ₹0.00 Crores (N.A.)
- Amount Utilised: ₹0.00 Crores
- Deviation/Variation for the quarter: ₹0.00 Crores
- Remarks: Nil
- Object 3: Issue Expenses
- Original Allocation: ₹1.80 Crores
- Modified Allocation: ₹0.00 Crores (N.A.)
- Amount Utilised: ₹0.00 Crores
- Deviation/Variation for the quarter: ₹0.00 Crores
- Remarks: Nil
The letter was digitally signed by Bipin Dinesh Varma, Whole-Time Director (DIN: 05353685), on behalf of Esaar (India) Ltd (CIN: L67120MH1951PLC222871). The company's registered office is at Shop No. 06, Prathamesh Avenue, Datta Mandir Road, Malad (East), Mumbai - 400 097. The corporate office is at 101, 1st Floor, Western Edge 1, Western Express Highway, Borivali (East), Mumbai - 400 066.
This information is also available on the company's website, www.esaar.in.