Fund Raising Details
- Mode of Fund Raising: Issuance of Convertible warrants on preferential basis for cash consideration
- Date of Fund Raising: 7th May 2026
- Total Amount Raised under Preferential Issue: ₹40,00,00,000 (Forty Crores)
- Amount Received from Allottees: ₹27,00,00,000 (Twenty Seven Crores) representing 75% of consideration amount
- Instrument Details: 1,00,00,000 (One Crore) Convertible warrants
- Price per Warrant: ₹40 (Rupees Forty Only) including Warrant Subscription Price and Warrant Exercise Price
- Shareholder Approval: Extra Ordinary General Meeting held on 4th September 2024
Utilization Compliance
The company confirms there is no deviation and/or variation in the utilization of proceeds from the objects mentioned in the EGM notice. The funds have been utilized exactly as approved by shareholders.
Objects of Fund Utilization
1. Working Capital Requirements: ₹38.20 Crore - No deviation
2. General Corporate Purposes: ₹1.80 Crore - No deviation
Definition of Deviation
As per SEBI guidelines, deviation or variation means:
(a) Deviation in the objects or purposes for which the funds have been raised; or
(b) Deviation in the amount of funds actually utilized as against what was originally disclosed; or
(c) Change in terms of a contract referred to in the fundraising document
The company confirms none of these conditions apply to the utilization of the preferential issue proceeds.