The disclosure confirms that there has been no deviation or variation in the use of funds raised through the company's Qualified Institutional Placement (QIP) issue. This statement covers the quarter ended September 30, 2026, and was duly reviewed by the company's Audit Committee.
Key Fundraising Details
- Mode of Fund Raising: Qualified Institutional Placement (QIP)
- Date of Raising Funds: June 01, 2026
- Amount Raised: INR 349.99 Crore
- Monitoring Agency: Applicable
- Monitoring Agency Name: CRISIL Ratings Limited
Fund Utilization Breakdown
Funds have been utilized exactly as originally allocated with no modifications:
| Purpose | Original Allocation (INR Lac) | Funds Utilized (INR Lac) | Deviation |
| Repayment and/or pre-payment of certain outstanding borrowings | 3,000.00 | 3,000.00 | None |
| Investment in material subsidiary KRN HVAC Products Private Limited for working capital requirements | 23,525.75 | 13,425.75 | None |
| General Corporate Purposes | 7,653.73 | 7,653.73 | None |
Governance and Signatories
The statement was digitally signed by Santosh Kumar Yadav, Chairman & Managing Director (DIN: 07789940), on October 29, 2026, at 17:05:49 IST.
The financial tables were signed by Pawan Nawal, Chief Financial Officer, on October 29, 2026.
Financial Impact
No financial impact from deviation or variation, as none occurred. All funds have been utilized according to the original objects disclosed in the fund raising document.