Key Quantitative Figures

  • Funds Raised: ₹48,26,25,000 (Rupees Forty Eight Crore Twenty Six Lacs and Twenty Five Thousand Only)
  • Instrument Issued: 3,57,50,000 Convertible Equity Warrants
  • Face Value: ₹10 per warrant
  • Issue Price: ₹18 per warrant (including premium of ₹8 per warrant)
  • Date of Fund Raising: February 13, 2026

Fund Utilization Breakdown

| Purpose | Amount Allocated (₹ Crores) | Amount Utilized (₹ Crores) | Deviation Status |

| Working Capital Requirements | 10.00 | 10.00 | No Deviation |

| Establishment of Pellet Plant Facility | 20.00 | 20.00 | No Deviation |

| Refurbishment and Upgradation of Furnace Facilities | 10.00 | 10.00 | No Deviation |

| Strengthening and Upkeep of Plant Infrastructure | 8.00 | 7.77 | No Deviation |

| General Corporate Purpose | 0.50 | 0.50 | No Deviation |

Governance and Approval

  • The statement was reviewed and approved by the Audit Committee at its meeting held on May 29, 2026.
  • The company confirmed there is no deviation or variation in the use of proceeds from the objects stated in the Explanatory Statement through the notice of Annual General Meeting held on September 26, 2025.
  • The auditors had no comments on the statement.

Financial Impact

No financial impact from deviation or variation, as the company confirmed full compliance with the stated objects of the fund raise.