Key Quantitative Figures
- Total amount raised through preferential allotment: ₹1522.50 lakhs
- Funds allocated for supply chain infrastructure and machinery purchase: ₹500 lakhs (utilized: ₹250 lakhs)
- Funds allocated for workshop setup in Ahmedabad: ₹200 lakhs (utilized: ₹30 lakhs)
- Funds allocated for technology upgradation and ERP system: ₹100 lakhs (utilized: ₹60 lakhs)
- Funds allocated for working capital requirements: ₹606 lakhs (utilized: ₹11 lakhs)
- Total utilized amount as of March 31, 2026: ₹351 lakhs
- Number of convertible warrants allotted: 1,01,50,000 (One Crore One Lakh Fifty Thousand)
- Issue price per warrant: ₹15 (₹3.75 received as on date of allotment)
Dates and Approvals
- Date of warrant allotment: March 7, 2026 and March 12, 2026
- Shareholder approval obtained: March 1, 2026
- Audit Committee review date: May 26, 2026
- Board of Directors approval date: May 26, 2026
- Reporting period: Quarter ended March 31, 2026
Utilization Details
No deviation or variation reported in the utilization of proceeds. The actual utilization against original objects:
- Supply chain infrastructure and machinery purchase: ₹250 lakhs utilized of ₹500 lakhs allocated
- Workshop for welding work in Ahmedabad: ₹30 lakhs utilized of ₹200 lakhs allocated
- Technology upgradation and ERP system: ₹60 lakhs utilized of ₹100 lakhs allocated
- Working capital requirements: ₹11 lakhs utilized of ₹606 lakhs allocated
Governance Process
The statement was duly reviewed by the Audit Committee of the Company and taken on record by the Board of Directors at their respective meetings held on May 26, 2026.
Financial Impact
No financial impact from deviations or variations as none were reported. The utilization is proceeding as originally planned.